March 17, 2017 / 3:58 PM / 9 months ago

Cevian's stake in Bilfinger rises to nearly 30 percent

FRANKFURT (Reuters) - Activist investor Cevian’s stake in German industrial services group Bilfinger (GBFG.DE) grew to 29.5 percent from 25.6 percent, a regulatory filing by Bilfinger showed on Friday.

The logo of German industrial services provider Bilfinger is pictured outside its headquarters in Mannheim, Germany, May 11, 2016. REUTERS/Ralph Orlowski

That brings it close to the 30 percent threshold at which investors are forced under German law to make a full takeover offer.

    Cevian, which has a policy of buying stakes in companies whose parts it sees as being more valuable than the whole, started buying shares in Bilfinger in 2011.

    It instigated a management overhaul in 2015, after the group issued six profit warnings in a year, having run into difficulties in a shift from construction into services.

    Reporting by Maria Sheahan; Editing by Christoph Steitz

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