Mutares Reduces Shareholding in Steyr Motors with EUR 30.9 Million Sale
Deal News | Apr 14, 2025 | Mutares
Mutares SE & Co. KGaA, a German private equity firm, has successfully placed 910,000 shares of Steyr Motors AG with qualified investors, securing EUR 30.9 million through an accelerated bookbuilding process. This sale represents around 17% of Steyr's outstanding shares, consequently increasing the company's free float and liquidity in the stock exchange. The move follows legislative changes in Germany aimed at supporting domestic industries, including defense, where Steyr Motors sees substantial demand for its high-performance engines. In total, Mutares has sold approximately 1.6 million shares of Steyr Motors since March 18, including this transaction, securing about EUR 74 million in gross proceeds. Upon completion, Mutares remains a significant shareholder in Steyr Motors with a 40.1% stake and enters a 180-day lock-up period. The CIO of Mutares, Johannes Laumann, emphasized the value creation and liquidity benefits for stakeholders, reiterating support for Steyr Motors' growth which is underscored by a robust order backlog projected to 2027.
Sectors
- Private Equity
- Automotive & Defense
- Capital Markets
Geography
- Germany – The article involves Mutares, a German private equity firm, and legislative changes by the German Bundestag.
- Austria – Steyr Motors AG, the target company, is based in Austria.
Industry
- Private Equity – Mutares is a private equity firm involved in reducing its stake in Steyr Motors through a strategic share placement.
- Automotive & Defense – Steyr Motors specializes in high-performance engines with significant applications in defense, aligning with the industry's performance and growth expectations.
- Capital Markets – The article discusses share placements and the increased liquidity of Steyr Motors, relevant to capital markets activity.
Financials
- EUR 30.9 million – Proceeds from the recent placement of 910,000 shares.
- EUR 74 million – Total gross proceeds from all on- and off-market placements since March 18, 2025.
- 40.1% – Remaining stake of Mutares in Steyr Motors after the share placement.
- 20% – Target EBIT margin aimed by Steyr Motors.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Mutares SE & Co. KGaA | Selling Company | Company | A German private equity firm placing shares of Steyr Motors. |
| Steyr Motors AG | Target Company | Company | An Austrian company specializing in high-performance engines, especially for defense applications. |
| Johannes Laumann | Chief Investment Officer | Person | CIO of Mutares, commenting on the transaction and future strategy. |
| German Bundestag | Government | Government | Involved through legislative changes influencing the defense industry conditions. |