Bmw’s Susanne Klatten buys stake in SGL Group to keep Vw at bay

Article by Christian Andrei, on May 25, 2011

Susanne Klatten, a BMW AG board member, increased her stake in SGL Group, a German producer of carbon products, to 27.3 percent, up from 22 percent previously. She did this through her investment vehicle Skion.

She did this in order to prevent Volkswagen AG from being a major influence on SGL. Last February, VW obtained an 8.18 percent stake in SGL that surprised the players in the stock market.

The company disclosed that it would not increase its share to more than 10 percent.

VW’s actions prompted Klatten to announce that she was observing the company’s moves in vigilance, and if needed, she could get a blocking minority stake in SGL. Her 27.3 percent ownership of SGL will give her the right to veto strategic decisions. She is also targeting to lift her stake to around 29 percent in the next 12 months.

A Skion spokesman stated that the investment group is currently not planning a full takeover of SGL. On the other hand, SGL stated on Wednesday that the investment group would continue to have a say in the appointment of top executives and directors.

Klatten, a member of the Quandt family, currently has 12.6 percent ownership in BMW. Her family is currently the biggest shareholder of BMQ, holding 46 percent of shares.

SGL entered a deal on lightweight carbon parts for the new i3 electric car of BMW. It has disclosed that it does not rule out collaboration agreements with other automakers.

Topics: bmw

If you liked the article, share on:

Comments

Login or Create new account to add a comment!

Recommended

For those who love driving, future autonomous cars should be like the Toyota Concept-i that is drawing in a multitude of visitors at the 2017 Consumer Electronics Show in Las...
by - January 15, 2017
Things are looking good at Rolls-Royce Motor Cars as the British luxury carmaker impressed by posting a six-percent jump in deliveries in 2016. Rolls-Royce’s 2016 deliveries of 4,011 units in...
by - January 15, 2017
British luxury sports car maker Jaguar is introducing a bevy of subtle updates to the 2018 Jaguar F-Type Facelift. However, these updates are so subtle that they are barely noticeable...
by - January 14, 2017
As far as Automobili Lamborghini S.p.A. is concerned, 2016 was a very fruitful year. This is all due to the fact that the luxury sports carmaker has delivered the most...
by - January 14, 2017
Earlier reports revealed that Infiniti was at the point of considering an electric car for the future. Prior to this, the company has in fact unveiled two concepts already--- the...
by - January 13, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries