Viktor Vekselberg, the owner of the Renova Group, has denied all charges of violating the Swiss stock exchange laws, Switzerland-based company representative Daniel Grotski has said. The official statement followed the Swiss Finance Department’s launch of an official investigation into the legality of Vekselberg’s acquisition of a blocking stake in Sulzer, the Swiss manufacturer of oil pipeline pump equipment facilities, in 2007 for a reported sum of $1.7bln.
“The Swiss Financial Market Supervisory Authority, which has reviewed the Sulzer stake acquisition over the past two years and on whose recommendations the Swiss Finance Ministry launched its current investigations under the criminal law, has never found proofs of law infringements,” Renova said in an official statement. “Besides, the Renova management has always ensured that it complies with all the Swiss laws. Both Vekselberg and other company representatives have declared their willingness to cooperate with the Swiss authorities during the investigations, which they hope will be done as quickly and effectively as possible.”
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