The company Grammer AG is engaged in the production of seats and equipment for car interior. The company had revenues of 860 million EUR in the first six months of last year. Grammer has 12,000 employees and operates in 20 countries around the world. Family Hastor, through its companies Cascade and Halog, already has a 20 % stake in Grammer.
However, a few days ago Hastor’s companies sent a request to the management of Grammer in which virtually demanded complete management over the company. It was requested, namely, to get key positions in the company or the position of Chief Executive Officer and five members of the Supervisory Board. Their proposal was rejected, and the management of the German company announced it on its website.
Cascade owns 10 % ownership in Grammer. The owner of Cascade is the company Eastern Horizon Group Netherlands, whose owners are Kenan and Damir Hastor, sons of Nijaz Hastor. Moreover, Kenan and Damir the also owners of the company Halog, over which they have 10 % ownership in Grammer as well.
It remains to be seen what will be the next step of family Hastor and whether they will try to take a bigger stake in the German company.
“Intensified supervision in the light of the deficit should not be misinterpreted as a hostile takeover,” as announced from the company Cascade.
(Source: faktor.ba)
