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Saint Gobain Furthers Sika agreement with Burkard family

Saint Gobain, a French building materials company, has struck an agreement with the Burkard Schenker family that would see it take control of Sika.

Saint Gobain agreed to buy a 16.1% stake from the Burkard Schenker family. That stake holds a 52.4% stake of Sika’s voting rights. Which is a cheaper option than buying the whole company.

A spokeswoman for the firm said, “Saint Gobain is determined to go through with this transaction and is engaged in a long term strategy. “