Wendel: raises stake in Stahl
(CercleFinance.com) - French investment company Wendel Group announced on Thursday evening that it has reached an agreement to acquire 4.
8% of Stahl's capital from Clariant, for 50 million euros.
"Following this deal, Wendel increases its ownership in Stahl to c. 67%2. Clariant now owns c. 14.5%2 of the capital of Stahl and therefore drops out its board seat and its specific veto rights," Wendel said.
The remainder of Stahl's capital, a company specialised in the chemical treatment of leather, is held by BASF, company management and other minority shareholders.
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8% of Stahl's capital from Clariant, for 50 million euros.
"Following this deal, Wendel increases its ownership in Stahl to c. 67%2. Clariant now owns c. 14.5%2 of the capital of Stahl and therefore drops out its board seat and its specific veto rights," Wendel said.
The remainder of Stahl's capital, a company specialised in the chemical treatment of leather, is held by BASF, company management and other minority shareholders.
Copyright (c) 2019 CercleFinance.com. All rights reserved.