February 28, 2019 / 9:32 AM / 4 months ago

Rheinmetall says investor The Capital Group pledged to be hands-off

FRANKFURT, Feb 28 (Reuters) - German defence contractor and automotive parts maker Rheinmetall said it had been told by shareholder The Capital Group, which upped its stake in the group to 15.4 percent earlier this month, that the investor would play a passive role.

In a regulatory statement on Thursday, Rheinmetall said it had been informed by the investor that it did not plan to increase its stake over the next 12 months or to influence key personnel decisions.

The Capital Group also would not seek a change in financial strategy or dividend policy, Rheinmetall added.

The investor’s stake increase was announced on Feb. 20. (Reporting by Ludwig Burger; Editing by Mark Potter)

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