Draka under pressure from shareholder

Friday 18 April 2008

Cable maker Draka is the latest Dutch firm to come under pressure from an activist shareholder, the Financieele Dagblad reports on Friday.

The paper says Draka is being urged by US equity firm Lucerne Capital Management to sell its 35% stake in Oman Cable Industry.

Lucerne, which owns 4.2% of Draka, recommends the sale because Oman's share price has risen sharply. A Draka spokesman told the FD that the Oman stake, which it has held for 20 years, is a strategic shareholding.

© DutchNews.nl

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