The French commercial court of Nanterre, near Paris, is expected to rule on the Eiffage dispute that ended up last month with the controversial cancellation of the voting rights of 89 Spanish shareholders of the French construction group. Grupo Rayet, the Spanish second-largest shareholder in Eiffage, has filed a lawsuit alleging that the decision by Eiffage's board to cancel voting rights during the company's last meeting was illegal. A decision will be made public on 1 June.
The French commercial court of Nanterre, near Paris, is expected to rule on the Eiffage dispute that ended up last month with the controversial cancellation of the voting rights of 89 Spanish shareholders of the French construction group. Grupo Rayet, the Spanish second-largest shareholder in Eiffage, has filed a lawsuit alleging that the decision by Eiffage's board to cancel voting rights during the company's last meeting was illegal. A decision will be made public on 1 June.
At the general meeting last month, Eiffage rejected the request of Sacyr Vallehermoso to obtain an additional seat on the company's board, helped by the cancellation of the voting rights of all the Spanish shareholders. Sacyr, Eiffage's majority shareholder with a 33% stake, announced a takeover bid for Eiffage a day after the meeting. The offer was rejected by Eiffage, which has meanwhile filed a lawsuit against Sacyr and other Spanish shareholders accusing them tof acting in concert and trying to take control of Eiffage.
