WOLFSBURG (dpa-AFX) - Sports-car maker Porsche AG, owned by German auto giant Volkswagen (VKW.L, VLKAF.PK, VOW.BE), Thursday said it increased its stake in engineering group Bertrandt AG by nearly four percentage points to about 29 percent.
The sports car manufacturer acquired the shares from the ownership of Dietmar Bichler, Chairman of the Executive Board of Bertrandt AG, and his family. Bichler will continue to own shares in Bertrandt.
'The transaction has no relation to my activity as Chairman of the Executive Board,' Bichler said, adding that the management and independence of Bertrandt would remain intact.
Porsche said it had no intention to acquire any further voting rights and would continue not to exert influence on the Executive Board or the Supervisory Board of Bertrandt. It will not also aspire to any other changes. Porsche holds Bertrandt as an investment under its financial assets.
Bertrandt, based in Ehningen, is a leading engineering partner to companies in the automotive and aerospace industries.
Its product portfolio ranges from developing single components and complex modules through to the supply of complete solutions.
Copyright RTT News/dpa-AFX