New shareholders take VTG stakes
VTG: Leasing and logistics company VTG AG announced on March 15 that part of the 35% stake held by funds managed by Wilbur Ross would be sold to new shareholders. Purchase agreements were expected to close shortly, with the Joachim Herz foundation becoming the third largest shareholder with 10% of the share capital and Hamburg-based bank MM Warburg & Co holding 5%. Andreas Goer will continue to hold 29%.
The funds managed by Wilbur Ross acquired VTG from TUI AG in 2005 and listed it on the stock market in 2007. ‘I am very proud to have been a part of VTG’s success story to date’, said Ross. ‘Now that 10 years have passed, it feels like the right time to place a part of the investment in new, trustworthy hands.’
‘I am very pleased that we have successfully gained the Joachim Herz Stiftung and MM Warburg & Co as new shareholders’, said VTG Chief Executive Dr Heiko Fischer. ‘The long-term investment horizon of both investors from Hamburg fits well with our business model.’