Mutares Plans to Reduce Stake in Steyr Motors Amid High Investor Interest

Mutares SE & Co. KGaA has announced its intention to reduce its stake in Steyr Motors AG. This decision comes in response to strong demand from investors and aims to enhance the free float of Steyr shares. The move is expected to diversify Steyr's shareholder base, providing investment opportunities for new and existing investors following a constitutional amendment by the German Bundestag to bolster the defense industry.

The company has agreed with Steyr’s listing agent on the termination of the remaining soft lock-up obligation. Despite the stake reduction, Mutares plans to remain a significant shareholder in Steyr and is optimistic about its future growth. The sale is anticipated to generate considerable gross proceeds, influenced by current dynamic market conditions.