- 3i reduces shareholding to 5%
- Successful share placement with institutional and private investors
Freudenstadt, 28 June 2005. The London-based 3i Group, a partner to schlott gruppe since the latter implemented its MBO in 1992, today announced that it had reduced its ownership interest in the company to 5%. In total, 344,000 shares were placed with institutional and private investors by Sal. Oppenheim jr. & Cie. KGaA. The transaction was well received by the markets. The free float of schlott gruppe has increased from 47.7 to 53.2 per cent as a result of the share placement.
Dr. Uwe Hack, CFO of schlott gruppe, commented on the transaction: “One of the prime objectives of our Investor Relations activities is to enhance the overall appeal of our shares within the capital market. We have now shown beyond doubt that even substantial share transactions can be implemented smoothly and with great efficiency. We remain as committed as ever to our old and new shareholders.”