ACTIONS CORNER
After Rhön-Klinikum had announced it wanted to apply for registration of the disputed Annual General Meeting resolution to remove the takeover hurdle at the registry court before the expiry of the limitation period, B. Braun Holding reiterated its opposition. The major shareholder announced it would file a legal challenge, but so far this has not happened. The package shareholder also has time until the expiry of the limitation period on 12 July. The Rhön shareholder, which last year reported a share package of five per cent, was convinced that its action “will have success.”
Five years after the failed joint entry of RWE and Rustenburg into the Russian electricity market (TGK-2), the legal processing of the case goes into a new round. The subsidiary of Sintez Group, which belongs to Leonid Lebedev, is still trying to get compensation from the German energy company. The Russian oligarch’s complaint is “admissible and well founded,” it said in a 246-page reply to the court. A year ago, the lawsuit against RWE and former CEO Jürgen Grossmann was filed before the district court, requesting damages in the amount of €675 million. The Essen-based energy provider receives compensation from Gazprom, however, for the past two years of over-expensive gas purchased. After the arbitration award, RWE may supposedly look forward to an additional payment in the billions. The supply contracts with Gazprom must according to it be removed from the rigid coupling to the oil price. This was decided by an arbitral tribunal in Vienna, ending a year-long conflict between the two groups. What the impact of the arbitration award on the annual results of the second-largest German energy group will be is still unclear. The ruling could also reduce the electricity price.
Uriel Sharef has to answer before Munich District Court in the wake of the bribery scandal. The prosecution had accused the former Siemens board member in the course of the multibillion-dollar corruption scandal in June 2011. Reportedly Sharef was then accused of having been involved in a system of slush funds and bribery involved in the award of a contract for the production of counterfeit-proof identification cards in Argentina. From 6 September the last former top manager of the electrical engineering company has to answer in court.