Straumann Investor Sells a 10% Stake to Singapore’s GIC
Posted on 11/27/2012
The press release states, “Straumann Holding AG has been informed by two of its existing shareholders about a transaction involving a 10% block of registered shares. Dr h.c. Thomas Straumann, who is the major shareholder and Vice Chairman of the Board, has sold the shares to the Government of Singapore Investment Corporation Pte. Ltd. (GIC), bringing the two parties’ respective stakes to 17% and 14% of the total share capital of Straumann Holding AG.
Thomas Straumann commented: “The prevailing weak economic environment has made it necessary to reallocate funds in order to support and meet my investment commitments in other areas. My belief in the long-term future of Straumann is undiminished, and I have every confidence in its business fundamentals, people, and strategy. Straumann remains my core investment, and I fully intend to continue contributing to its direction as a principal shareholder for the long-term.”
In addition, Dr Straumann has agreed to a one-year lock-up period, during which he will not reduce his stake.
GIC has also expressed its long-term shareholder interest in the company. GIC was established in 1981 and is one of the world’s leading sovereign wealth funds. Its aim is to achieve good long-term returns for its owner, the Government of Singapore.”
Read more:Press Release
Keywords: GIC Private Limited.