Jenoptik to divest some 40% of DEWB stake

Technology group Jenoptik AG has announced its intentions of reducing its current 92% stake in its corporate venture arm, Deutsche Effecten- und Wechsel-Beteiligungsgesellschaft (DEWB), to less than 50% by the end of 2002. Jenoptik originally divested a 7% stake in DEWB earlier this year via a share placement. With an equity stake of less than 50% in DEWB, Jenoptik would no longer be required to account for DEWB’s operations on its balance sheet.

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• DACH