FRANKFURT (Reuters) - Swedish activist investor Cevian increased its stake in German steelmaker ThyssenKrupp (TKAG.DE) to 15.1 percent and could buy more shares as it seeks long-term gains, Thyssen said.
Cevian, which in December had increased its Thyssen stake to about 11 percent as part of a capital increase at the German group, may acquire further voting rights within the next 12 months, Thyssen said on Tuesday.
Thyssen added it was notified by Cevian that “the purpose of the investment is not to implement strategic objectives but to achieve trading gains”.
A financial source familiar with the matter had told Reuters in January that Cevian was increasing its stake in ThyssenKrupp to between 12 and 15 percent.
ThyssenKrupp shares gained 1.7 percent on the news at 0820 GMT, outperforming the 1.1 percent increase in Germany's blue-chip index .GDAXI.
Reporting by Ludwig Burger; Editing by Harro ten Wolde