OC Oerlikon Corporation (OERLF)

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Renova denies plans to acquire Victory's Oerlikon stake
April 21, 2008: 07:37 AM EST

ZURICH, Apr. 21, 2008 (Thomson Financial delivered by Newstex) -- OC Oerlikon Corp (OOTC:OERLF) AG. shareholder Renova, owned by Russian investor Viktor Vekselberg, has denied it has plans to make a bid for major shareholder Victory Indstriebeteiligungs AG's stake in the Swiss technology group.

'This is not true. We have no such plans,' Renova spokesman Markus Blume told Thomson Financial News.

According to market rumours in London, Renova is planning to make a joint 450 Swiss francs per share bid together with a German industrialist family for Victory's stake of just below 50 percent.

Renova, holds a stake of about 25 percent.

On Friday, OC Oerlikon said it will submit a proposal at its AGM to abolish the so-called 'opting out' clause, which currently says a shareholder who purchases more than a third of its shares is not obliged to make a public takeover offer in compliance with the Swiss stock exchange regulations.



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