October 07, 2008

Administratiekantoor Bekaert lifts stake in Bekaert

Euronext reported that stichting Administratiekantoor Bekaert lifted its stake in Belgian steel cord and wire manufacturer Bekaert SA to 37.57% from 33.71%.

The statement said that stichting Administratiekantoor Bekaert and its related companies Velge & Co NV, Subeco SA and Millennium 3 SA, which together make up Beaker’s reference shareholder, conducted a number of transactions to hold 37.57% of Bekart's capital at December 8th 2007.

Other companies acting in concert with Stichting Administratiekantoor Bekaert were De Sneppe NV, BSI NV, Tirhold Inc, Beauval enterprises Corp and HLF SPRL.

The groups added that it is their policy to hold over 30 percent of shares and, where possible 'to strengthen their stake'.