Schaeffler AG (XTRA:SHA) entered into an agreement to acquire additional 9% stake in Vitesco Technologies Group Aktiengesellschaft (XTRA:VTSC) from BofA Securities Europe SA on January 23, 2024. As part of acquisition, Schaeffler will acquire 3.6 million shares. After completion of acquisition, Schaeffler holding in Vitesco Technologies will increases to approximately 38.87%.
Schaeffler AG (XTRA:SHA) acquired an additional 9% stake in Vitesco Technologies Group Aktiengesellschaft (XTRA:VTSC) from BofA Securities Europe SA on January 23, 2024. The price of the additional shares acquired is lower than the consideration paid by Schaeffler in the tender offer. The acquisition increases Schaeffler's shareholding in Vitesco to approximately 38.87% stake. IHO, the strategic management holding of the Schaeffler family, continues to hold approximately 49.94% of the shares in Vitesco. Together with the IHO Holding, Schaeffler now holds approximately 88.81% of the share capital and voting rights in Vitesco.