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German beer maker plans investment in oil recycler

25.04.2019 − 

The owner of German beer maker Bitburger plans to purchase a 45 per cent stake in the waste oil recycler Avista Oil AG. At the same time, Germany’s richest woman, the BMW heiress Susanne Klatten, would increase her stake in the waste oil company from 35 per cent to 45 per cent, Avista announced on Wednesday. Ms Klatten owns her stake in the recycler through her investment company Skion.

The Bitburger Holding GmbH would acquire its indirect stake of about 45 per cent through investments including the purchase of shares from the existing shareholders Core Link GmbH & Co. KG and Avista Beteiligungsgesellschaft mbH & Co. KG. The two existing shareholders would leave the company as a result of the transaction, Avista explained. A further shareholder, Dr. Weinberger Management & Consult GmbH, is to continue to own a 10 percent stake in the waste oil recycler.

"With the new shareholder structure, Avista Oil AG will continue to be accompanied by industrially-experienced and family-oriented sharehold-ers. Together with these strong and long-term oriented shareholders at our side, we look forward to further develop Avista Oil technologically and expand into new markets,” said Avista CEO Marc Verfürth.

The transaction remains subject to approval by antitrust authorities. The purchase price was not disclosed.

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