Lanxess: Warren Buffett effect has not subsided.

(CercleFinance.com) - The Lanxess share rose by about 6% yesterday on the announcement of Berkshire Hathaway's arrival in the group's fundraising discussions.
Towards lunchtime today, the share is defending these gains, listed at over 68 euros.

Yesterday, a regulatory notice published by the company indicated that General Reinsurance AG, a subsidiary of the American holding company Berkshire Hathaway, which is still headed by the famous Warren Buffett, had taken a 3.004% stake in the capital of the German specialty chemist.

Considering Lanxess' closing price prior to the announcement, i.e. slightly over 63 euros, this participation would correspond to an investment of around 170 million euros, with the German company having a market capitalization of over 6 billion euros.


Copyright (c) 2017 CercleFinance.com. All rights reserved.