Siebe wins control dispute

Siebe wins control dispute
Alex Mayhew-Smith Siebe, the British engineering group, has clinched a victory in its dispute with wayward Japanese subsidiary Nemic-Lambda. The founder of Nemic-Lambda, Rikihiro Madarame, resigned last week. This resolves the fight for control of the company only days before a shareholders’ meeting to vote on a new board of directors proposed by Siebe. Earlier this month a Tokyo court stopped a move by Madarame to issue six and a half million new shares, which would have diluted Siebe’s stake from more than 50 per cent to 38 per cent.


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