ThyssenKrupp activist shareholder Cevian would not rule out further stake increase
Activist investor Cevian Capital would not rule out further increasing its stake in listed German steel group ThyssenKrupp, German daily Boersen Zeitung reported. The report cited a Cevian spokesperson who declined to reveal a target shareholding figure.
Cevian increased its stake to 10.96% through the ThyssenKrupp capital increase which also saw the largest shareholder, the Krupp foundation, fall below the 25% threshold to to 23.03%.
Cevian announced it wants representation on the ThyssenKrupp board to reflect its stake, but did not reveal whether it is targeting one or two seats, the report noted. The next opportunity to vote Cevian representatives to the ThyssenKrupp board is at the AGM on 17 January.
ThyssenKrupp declined to comment on the Cevian stake increase and desire for board representation.
Boersen-Zeitung