March 17, 2017 / 4:00 PM / 3 years ago

Cevian's stake in Bilfinger rises to nearly 30 percent

The logo of German industrial services provider Bilfinger is pictured outside its headquarters in Mannheim, Germany, May 11, 2016. REUTERS/Ralph Orlowski

FRANKFURT (Reuters) - Activist investor Cevian’s stake in German industrial services group Bilfinger (GBFG.DE) grew to 29.5 percent from 25.6 percent, a regulatory filing by Bilfinger showed on Friday.

That brings it close to the 30 percent threshold at which investors are forced under German law to make a full takeover offer.

Cevian, which has a policy of buying stakes in companies whose parts it sees as being more valuable than the whole, started buying shares in Bilfinger in 2011.

It instigated a management overhaul in 2015, after the group issued six profit warnings in a year, having run into difficulties in a shift from construction into services.

Reporting by Maria Sheahan; Editing by Christoph Steitz

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