About a quarter of his shares in the German automaker Mercedes-Benz Group AG plans to sell the sovereign fund of Kuwait (Kuwait Investment Authority – KIA). It should be noted that the Kuwaiti fund has been a shareholder of Mercedes for almost 50 years.
According to Bloomberg, KIA plans to sell about 20 million shares at a target price of 69.27 euros per share, that is, a total of 1.385 billion euros. According to the source, the Kuwaiti fund now owns a 6.8% stake, being the third largest shareholder in Mercedes-Benz Group AG. After the sale, KIA will remain the owner of about 53 million shares of the German company.
As the agency notes,Interfax”, shares of Mercedes following the results of trading on Tuesday rose by 0.6% to 71.89 euros per share.
