Financial Times FT.com

Saint-Gobain turns up heat

By Peggy Hollinger in Paris

Published: February 10 2008 20:13 | Last updated: February 10 2008 20:13

Saint-Gobain is stepping up the pressure on its biggest shareholder, agreeing to offer Wendel Investments three board seats only if it backs the proposal to abolish double voting rights at the next annual meeting.

It is understood the demand was passed to Wendel, which has 18 per cent of the building materials group, after a Saint-Gobain board meeting on Friday.

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