The largest shareholder of Sulzer AG, the Renova shareholder group, exceeded the threshold of 33 1/3% of the voting rights in Sulzer on July 31, 2015. This triggered a legal obligation upon it to make an offer, and the shareholder group complied by making a public purchase offer to all Sulzer shareholders on August 3, 2015. The Board of Directors of Sulzer AG appointed an Independent Committee comprising all independent members of the Board of Directors, with the exception of the two Renova representatives on the Board of Directors, Peter Löscher and Marco Musetti, to review this offer.
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