(RTTNews) - Mutares SE & Co. KGaA (MUX.DE) said it has successfully sold remaining 23% stake in Steyr Motors AG (4X0.DE) to international institutional investors as part of a private placement. With the placement now complete, Mutares has entirely exited the Steyr Motors shareholder circle.
Mutares acquired Steyr Motors in the fourth quarter of 2022. Throughout the entire holding period of Steyr Motors, Mutares generated total gross proceeds of more than 170 million euros, achieving a ROIC well above the target range.
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