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Deutsche Balaton acquires majority of asset manager Sparta

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Deutsche Balaton acquires majority of asset manager Sparta

Asset management firm Deutsche Balaton AG has raised its stake in smaller sector company Sparta AG to more than 50% following a recent minority stake acquisition.

Deutsche Balaton submitted a voluntary offer of €132.80 per share for a 12.6% stake, or 95,000 shares, in Sparta on Dec. 7, 2018. The acquisition was completed Dec. 27, 2018, including the purchase of 35,207 shares at a price of €136.50 apiece by Deutsche Balaton supervisory board member Wilhelm Zours, Sparta said Jan. 2.