Kuwait Sells Part of Its Stake in German 'GEA' for 324 Million Euros
The Public Authority for Investment reduced its stake in the German GEA Group by selling approximately 5 million shares worth 324 million euros, lowering its holding to 6.99%.
Translated by Qiyas from الجريدة — Original source
The Public Authority for Investment (PAI) reduced its stake in the German GEA Group, a global specialist in food and pharmaceutical industry technologies and equipment, by selling approximately 5 million shares in the company as part of a deal that raised around 324 million euros.
According to GlobalCapital, the Authority executed the partial sale of its stake through JPMorgan, while Investing.com reported that the sold shares represented about 3% of GEA’s total shares, with a selling price ranging between 64.85 and 65.50 euros per share, compared to a previous closing price of 66.85 euros.
The deal came at a time when the Authority held approximately 10.5% of the German group, before a regulatory disclosure by GEA confirmed that Kuwait’s stake had declined to 6.99%.
Headquartered in Düsseldorf, the German group specializes in developing equipment, systems, and technologies used in production processes, particularly in the food, beverage, and pharmaceutical industries, and operates in numerous global markets.
