Picanol Group has recently acquired a minority stake in Rieter Holding AG (SWX: RIEN), amounting to a total of 467,236 shares for a price of 45.4 million EUR (or a price per share of 107.5 CHF). Rieter is the world’s leading supplier of systems for short-staple fiber spinning. The company develops and manufactures machinery, systems and components used to convert natural and man-made fibers into yarns. As a result of the transaction, Picanol Group is now holding 10% of the share capital of Rieter Holding AG.
With the financial participation in Rieter Holding AG, Picanol Group wants to further diversify its activitiesin the textile industry and secure a stable shareholding for Rieter Holding AG in the long term