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SGL Group is the main carbon fibre partner of BMW. BMW Group and the SGL Group have agreed on the establishment of a joint venture for the production of carbon fibres and textile semi-finished products (CFRP) for use in vehicle construction in 2009. Carbon fibre is essential to the future plans of BMW to make electric vehicles under the i sub brand. This was the main reason why BMW invested in SGL stocks. Last month, Volkswagen surprised BMW by buying an 8% stake in SGL. Though VW said that they had no intention of increasing their stake to more than 10%, BMW wanted to make sure that this move by VW will not get in the way of their future plans.
Thus, Susanne Klatten, a main shareholder of the BMW Group and a member of the Quandt family, has bought a blocking minority stake in SGL Group to prevent any future plans of VW to buy more stake.
Klatten raised her stake in the company to 27.3 percent, giving her the right to make and command strategic decisions in SGL. Klatten holds a 12.6 percent stake in BMW. The rest of the Quandt family owns 46 percent of BMW Group’s shares.
Source: Auto News
