From one billionaire to another: 10% Swiss Steel stake changes hands
21/05/2021 07:05
ZURICH, May 21 (Reuters) - Billionaire entrepreneur and
trainmaker Peter Spuhler is buying a 10% stake in Swiss Steel
STLN.S from billionaire car dealer Martin Haefner, the
steelmaker said on Friday, adding another wealthy owner to the
Swiss company's list of shareholders.
"Swiss Steel Holding AG has been informed that BigPoint
Holding AG has sold 306,000,000 shares of Swiss Steel Holding AG
to PCS Holding AG," the firm said in a statement, corresponding
to about a tenth of share capital and voting rights.
Through BigPoint, which previously held 51.4% of Swiss
Steel, Haefner also controls automobile importer and dealer
AMAG-Gruppe. Meanwhile, Frauenfeld-based PCS Holding is an
investment company for Spuhler, who is also the chairman of
trainmaker Stadler Rail SRAIL.S .
Russian oligarch and billionaire Viktor Vekselberg's
investment company Liwet is the other big owner in Swiss Steel,
at nearly 17%, according to Refinitiv data.
Haefner and Vekselberg have been feuding over whether
BigPoint should have to make a public tender offer for all of
Swiss Steel, based on its ownership stake. In the latest
decision in that case on Thursday, Swiss markets watchdog FINMA
rejected an appeal by Liwet, though it can still fight that
decision in Swiss court. urn:newsml:reuters.com:*:nFWN2N711J
(Reporting by John Miller, Editing by Sherry Jacob-Phillips)
((J.Miller@thomsonreuters.com; +41 58 306 7734; Reuters
Messaging: j.miller.thomsonreuters.com@reuters.net))