Brandes Investment Increases Its Praktiker Stake To 6.4%
Wednesday December 28, 4:54 AM EST
FRANKFURT -(Dow Jones)- German home improvement company Praktiker Bau- und Heimwerkermaerkte Holding AG (PRA.XE) Wednesday said U.S. shareholder Brandes Investment Partners LP has raised its stake in Praktiker to 6.4%.
According to a financial notice by Praktiker, Brandes' stake exceeded 5% of the voting rights as of Dec. 13. Brandes now holds 3,724,140 shares, or 6.4% of the share capital of Praktiker.
According to Praktiker's Web site, the freefloat is now 59.5%. Praktiker's main shareholder, retailer Metro AG (MEO.XE) holds 40.5%.
Praktiker, formerly a unit of Metro, listed on the stock exchange Nov. 22.
