Krupp Foundation stake diluted in Thyssen capital hike: sources

FRANKFURT Tue Dec 3, 2013 6:29am EST

The headquarters of ThyssenKrupp Steel Europe AG are seen in Duisburg November 29, 2013. ThyssenKrupp will hold their annual news conference on December 2, 2013 in Essen. REUTERS/Ina Fassbender

The headquarters of ThyssenKrupp Steel Europe AG are seen in Duisburg November 29, 2013. ThyssenKrupp will hold their annual news conference on December 2, 2013 in Essen.

Credit: Reuters/Ina Fassbender

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FRANKFURT (Reuters) - The Krupp Foundation, ThyssenKrupp's (TKAG.DE) biggest shareholder, did not participate in the German steelmaker's capital increase, three people familiar with the transaction said on Tuesday.

That means that the Foundation's stake in ThyssenKrupp has been diluted to less than 25 percent. Sweden-based activist fund Cevian, whose stake was at 6.1 percent, did buy new shares in the capital move, the sources told Reuters.

The Foundation and Cevian both declined to comment on the matter.

(Reporting by Alexander Huebner, Arno Schuetze and Tom Kaeckenhoff; Writing by Maria Sheahan)

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