BMW heiress makes play for complete control of additives supplier

Klatten is an heiress to the fortune of the Quandt family. Her investment vehicle, SKion GmbH, owns 12.5% of luxury carmaker BMW, plus the 95.04% stake in Altana, a 20% stake in wind turbine manufacturer Nordex, and 22.3% of SGL Carbon, a supplier of carbon fiber and graphite products. Klatten’s younger brother and mother own, respectively, 17.4% and 16.7% of BMW.
 
On Dec. 9, 2009, SKion offered €14/share for the Altana shares it did not then own. There were enough takers, as well as shares traded on the open market, for it to reach its current dominant ownership position. If Klatten succeeds in acquiring the remaining shares, which are trading this week at just over €17/share, then the special chemicals supplier will be taken private 33 years after it was brought to the stock exchange. In 1982 Klatten inherited a 50.1% stake in the supplier from her father, and has built up the position since then.

Klatten already serves as chairperson of Altana’s board. The company runs 35 production facilities around the world, employs about 4600 and had 2008 revenue of €1.3 billion.

Reuters reported last week the SKion might also be considering a bid for control of SGL Carbon. SKion already owns 22.3% of that company. So far, though, no takeover bid for SGL Carbon has emerged from SKion or other parties. —[email protected]