nvestor Active Ownership not pushing for sale of Stada -source - Reuters News
03-MAY-2016 13:23:32
FRANKFURT, May 3 (Reuters) - Investor Active Ownership, which has secured a 7 percent stake in Stada STAGn.DE, has no immediate plans to push for a sale of the German maker of generic drugs and consumer care products, a person close to the activist investor told Reuters.
"Active Ownership is currently not preparing a sales process, management change and also not a break-up," the source said on Tuesday.
It would instead work together with Stada's management on strategies that create value, the person added.
Officials at Active Ownership and Stada declined to comment.
The investor says on its website it was typically seeking board seats and advisory roles in the publicly listed small- and mid-size companies that it invests in.
"Together with management, we define value-enhancing strategies and measures and are ready to support their implementation as supervisory board members and advisors," it says on the website.
Active Ownership Fund SCS has acquired a direct 5.05 percent stake in Stada and holds about an additional 2 percent via stock options, an April 1 regulatory filing shows.
German daily Frankfurter Allgemeine Zeitung and the Wall Street Journal earlier cited sources as saying Active Ownership acquired the stake to potentially push for a sale of the generic drugmaker.