Cevian Capital Increasing Share of ThyssenKrupp to 10%

Cevian Capital is making a move on ThyssenKrupp AG saying it will raise its stake in ThyssenKrupp to 10 percent by the end of the year and will seek a seat on the supervisory board, according to sources reported by German publication Manager Magazin. It is speculated that Cevian could fill one of three board seats currently held by the Krupp Foundation. 

The activist investor has upped its holdings in ThyssenKrupp twice in the last two months, increasing its shares from 3 percent to 6.1 percent. In September, when Cevian increased its stake to 5.2 percent, spokesman Roland Klein said Cevian wasn’t interested in taking over ThyssenKrupp and normally holds its stakes for at least five years.  At the time the company said it was not seeking representation on ThyssenKrupp’s supervisory board.