Thyssen Heirs Sell Stake in Industrial Group
FRANKFURT, Germany (AP) _ Counts Claudio and Federico Zichy-Thyssen, greatgrandsons of the founder of the giant Thyssen industrial concern, have sold the family’s remaining 15.4 percent stake in the company to Commerzbank.
With the sale, announced Monday by Commerzbank, no more Thyssen family members remain in the company, based in Duesseldorf. Claudio and Federico Zichy-Thyssen live in Argentina.
Commerzbank said the block of shares will be gradually resold to private and institutional investors over the coming year.
The bank said it had agreed not to disclose the purchase price, but noted the present total stock market value of Thyssen AG is about $6.2 billion.
The counts’ stake of that share was equal to about $950 million.