Commercial Court, Zurich rules in favour of ARYZTA AG.
ARYZTA AG /
Commercial Court, Zurich rules in favour of ARYZTA AG.
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Zürich / Switzerland, 20 April 2011. The Commercial Court of the Canton of
Zurich (Handelsgericht des Kantons Zürich) has ruled in favour of ARYZTA AG
('ARYZTA') and dismissed the case brought by Peter J. Lehner & Partner AG
('Lehner').
Lehner (a former Hiestand shareholder) took a legal action against ARYZTA
asserting, in essence, entitlement under the Hiestand Holding AG ('Hiestand')
and IAWS Group plc ('IAWS') August 2008 merger, to a price for its Hiestand
shares equal to the price IAWS paid Lion Capital for its former Hiestand shares
under their contract.
ARYZTA has consistently maintained that the claim was without merit and while
Lehner may appeal the ruling of the Zurich Commercial Court to the Federal Court
of Switzerland within 30 days of 1 May 2011, ARYZTA will vigorously defend any
appeal that may be brought.
Enquiries:
Paul Meade
Communications Officer
ARYZTA AG
Tel. +41 (0) 44 583 42 00
info@aryzta.com
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ARYZTA AG
Talacker 41 Zurich Schweiz
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Source: ARYZTA AG via Thomson Reuters ONE
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