Two years ago, the Munich-based financial investor Mutares acquired the ailing domestic defense supplier Steyr Motors. defense supplier Steyr Motors from Thales. It has now floated the company on the Frankfurt Stock Exchange.
Following its insolvency at the end of 2018 and the takeover by the Thales Group in summer 2019, Steyr Motors was actually hoping to steer towards calmer and more successful waters. Not so, because not much happened around the long-established domestic company until 2022, which is generally not good news. When Mutares then showed interest, Thales did not need much persuading – the takeover is unlikely to have cost the Germans anything, although speculation about a symbolic purchase price of one euro was never confirmed. https://militaeraktuell.at/7-jaegerbrigade-wird-jaegerbrigade-jagdkampf/ In any case, the fact is that things went upwards for the diesel and auxiliary engine specialist from then on, although this was probably primarily due to Russia’s war of aggression in Ukraine (-> current news from the Ukraine war), as armaments budgets have increased in practically all of Western Europe since then. And in addition to locomotives, Steyr Motors primarily supplies its products to the armaments industry – for example engines for the Hawkei armored multi-purpose vehicle for the Australian army or auxiliary engines for the Leopard 2. Long story short: Mutares took advantage of the new tailwind and successfully floated Steyr Motors on the Frankfurt Stock Exchange these days. A total of EUR 15.5 million was raised with this step, the majority of which – a total of EUR 12.7 million – went directly to the Munich-based company. The Austrian investment company B&C is now on board as a major shareholder, taking over around half of the 1.1 million shares on offer and thus now holding 9.9 percent of Steyr Motors.
In the first three quarters of the current financial year, Steyr Motors achieved a turnover of more than 30 million euros, and the company is planning a jump in turnover of more than 40 percent in the coming year.
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