Family foundation. Billionaire Heinz Hermann Thiele has reduced stake before death.
Munich / Frankfurt. The billionaire Heinz Hermann Thiele, who died a month ago, apparently reduced his stake in the airline Lufthansa before his death. When the share package passed to his widow, Nadia Thiele, it only comprised 10.04 percent of the ailing airline, according to a voting rights announcement published on Friday night. The package is worth a good 630 million euros.
Thiele had joined Lufthansa on a larger scale during the corona crisis. The share slumped from more than 15 euros at the beginning of 2020 to seven euros at times, after costing more than 30 euros in 2017. In the meantime, you have to pay another eleven euros for it. In July 2020, KB Holding, in which Thiele had bundled its shares in listed companies, reported a stake of 12.42 percent.
Participation in Knorr-Bremse
The shares in the AUA parent Lufthansa, as well as Thiele’s majority stakes in the truck and rail supplier Knorr-Bremse and the rail technology group Vossloh, are to be transferred to a foundation by the end of the year. Thiele stated that in his will.
The family foundation and Thiele’s daughter Julia Thiele-Schürhoff will then own 59 percent of Knorr-Bremse and 50.1 percent of Vossloh. “Heinz Hermann Thiele’s wish was to secure his life’s work in the long term,” explained executor Robin Brühmüller. “This is exactly what is being implemented through the establishment of the family foundation.” The self-made billionaire Thiele started working for Knorr-Bremse in 1969 as a patent clerk, bought his employer during the crisis in 1985 and developed the Munich-based medium-sized company into the world market leader for truck and train brakes.
In 2018, Thiele brought the group to the stock exchange. In 2011 he joined Vossloh from Werdohl in the Sauerland. The “Manager Magazin” counted him and his family among the eight richest Germans in 2020, with assets of around 17 billion euros. (Reuters / red.)
(“Die Presse”, print edition, March 27th, 2021)