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Stronach handing off control of Magna International

Published: June 28, 2010; 00:00 · (Vindobona)

Shareholders decide on the planned restructuring of the international subcontractor- development of e-cars

Stronach handing off control of Magna International / Picture: © Reuters

Company founder Frank Stronach will lose majority control of the Magna International. But not yet. Media criticism of the Canadian Exchange Commission OSC was quoted as main reason. The shareholders of the supply operation are voting on a unification of share structure, which will mean that Stronach will only hold 7.44 instead of 66 percent. The Austro Canadian receives the equivalent…

This article includes a total of 382 words.

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