VIENNA Oct 6 Brazilian refractories materials
maker Magnesita made a London share listing a
precondition for its takeover by Austrian peer RHI,
but the group had to find a place other than London for the
combined company's headquarters, due to the UK vote to leave the
European Union, RHI's chief executive said on Thursday.
Instead the RHI Magnesita company will be established in the
Netherlands to remain subject to European merger rules, while
its shares will be listed in London, Wolfgang Ruttenstorfer said
in a conference call.
"Had there been no Brexit, I suppose that the ... holding
company would have been established in London," he said.
"Because there is Brexit, however, and the European merger
directive is perhaps no longer applicable in London at the
closing in 18 months, it was the task to find a place other than
(Reporting by Kirsti Knolle; Editing by Greg Mahlich)