German billionaire Thiele sells €1bn stake in Knorr-Bremse

By Sam Kerr
11 Sep 2020

Heinz-Hermann Thiele, the German billionaire, has raised €1bn through a share sale in break manufacturer Knorr-Bremse, the second time he has sold shares in the company since it floated in 2018, raising questions about why he would return to sell so soon.

Morgan Stanley was sole bookrunner on the transaction.

Thiele sold 10m shares, a 6.2% stake, at €100 a share on Thursday night. He raised €1bn that he intends to use to find other private investments.

The final price on the trades was around 8% below the closing ...

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