Rieter: Up on Picanol's stake purchase
17/03/2021 08:39
** Shares in Rieter Holding RIEN.S rise 2% after Picanol
Group PICB.BR acquired a minority stake in the Swiss textile
machinery maker urn:newsml:reuters.com:*:nFWN2LE0IM
** Picanol said on Tuesday it bought the stake in the
company for CHF 107.5 per share and it is now holding 10% of
Rieter's share capital
** Credit Suisse sees the transaction as a "strong
positive", noting that Picanol's Chief Executive Luc Tack sits
in Rieter's board of directors
** Shares in Rieter closed at CHF 125.8 per share on Tuesday
** Picanol's stock up 0.8%
((Linda.pasquini@thomsonreuters.com))