SAP co-founder sells shares worth 120 mln euros

FRANKFURT Fri Nov 30, 2012 10:18am EST

FRANKFURT Nov 30 (Reuters) - SAP said on Friday its co-founder Hasso Plattner has sold shares in the German business software company worth 120 million euros ($155.74 million).

SAP said the shares were sold to a bank, acting as commission agent for the monthly sale of SAP shares with a fair value of 10 million euros per month.

"The sale will be carried out at the bank's own discretion in the stock market or over the counter, for the first time in November 2012 and then again in the months January through November 2013," SAP said in a regulatory statement.

($1 = 0.7705 euros) (Reporting by Harro ten Wolde)