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Affalterbach, 19 May 2015 – Hans Werner Aufrecht, the founder and chairman of the supervisory board of HWA AG, has substantially expanded his shareholding in the company from 28% to approximately 40%. The shares were sold by Toto Wolff, who acquired a 49% shareholding in 2006 and acted as vice chairman of the supervisory board until 2013. With this over-the -counter (OTC) transaction, Wolff has fully divested himself of his shareholding in HWA AG. The purchase price of the shares was 18.00 Euros. The transaction formed part of the reorganization of Mr Wolff’s investment portfolio, which has been ongoing since his appointment in January 2013 as Head of Mercedes-Benz Motorsport and Executive Director of MERCEDES AMG PETRONAS.
Ulrich Fritz, CEO of HWA, commented: “We are delighted that Mr Aufrecht has increased his shareholding to around 40%. He founded the company that is today Mercedes-AMG GmbH and then HWA AG in 1998, so we are pleased that he will remain closely associated with the company in the future. This commitment from Mr Aufrecht is a strong signal for the entire company and its future prospects.”
HWA AG shares are listed in the Entry Standard of the German Stock Exchange. Therefore, although the 30% threshold has been passed, a take-over offer is not required under the regulations of the Securities Trading Act.
HWA AG was founded in 1998 as a spin-off from AMG, which was established in 1967 by Hans Werner Aufrecht as the Mercedes Benz customisation specialist. Towards the end of 1998 Hans Werner Aufrecht sold a majority interest in AMG Motoren- und Entwicklungsgesellschaft mbH, as it then was, to Daimler AG. In the process of disposal, motor racing – what is today the AMG-Mercedes team in the German Touring Car Championship (DTM) – and parts of the vehicles and vehicles components business were spun off and transferred to HWA AG. In the motor racing business, HWA AG acts as a full service provider to Daimler AG Motorsport in the DTM. It is responsible for the whole process of development and construction of the racing cars, including the engines, together with all other activities involved in the racing team’s operations. In its vehicles and vehicles components business, it develops and builds cars and vehicle components for the automobile industry. Since 2003 HWA AG has been producing and servicing racing engines for the Formula 3 Euroseries and the British Formula 3 Series.