The Munich retailer Ludwig Beck AG gets a new majority owner.
On Friday, the group announced in an ad hoc announcement that the real estate entrepreneur Alfons Doblinger had acquired the share packages from Ludwig Beck CEO Christian Greiner and Intro-Verwaltungs GmbH.
This means that Doblinger “directly and indirectly controls a total of around 77 percent of the company’s share capital and voting rights,” explained Ludwig Beck. The sale and transfer of the shareholdings are still “subject to the suspensive condition of antitrust approval,” according to the statement. Financial details of the transactions were not disclosed.
Until the now announced sale, Greiner had held around 26.3 percent of the share capital of Ludwig Beck AG through his Christian Rudolf Greiner Verwaltungs GmbH; the Intro-Verwaltungs GmbH of Greiner’s father, the Nuremberg entrepreneur Hans Rudolf Wöhrl, had a stake of around 25.2 percent in the trading group.
By acquiring the two share packages, Doblinger now secured a three-quarters majority in Ludwig Beck. It is not yet possible to predict what impact this will have on the retailer’s management. At the end of April, the company announced that it had to accept a decline in sales and higher losses in the first quarter of the current year due to adverse market conditions.