Aurubis shares drop as Salzgitter's stake to shrink in bond deal

Salzgitter AG

15/10/2025 08:48

FRANKFURT, Oct 15 (Reuters) - Shares in German copper producer Aurubis NAFG.DE fell on Wednesday after key shareholder Salzgitter SZGG.DE sold 500 million euros ($581.70 million) worth of bonds that can be exchanged for 7.6% of Aurubis's shares.

Shares in Aurubis, previously buoyed by booming copper markets, were down 6.2% at 0733 GMT, eliminating gains from earlier this month.

The move quenched simmering takeover speculation because Salzgitter has held 29.99% of Aurubis and a stake of more than 30% would have triggered a mandatory offer to remaining shareholders.

($1 = 0.8595 euros)

 (Reporting by Ludwig Burger and Alexander Huebner, Editing by Friederike Heine)

 ((ludwig.burger@thomsonreuters.com;))