AUSTRIA - Morgan Stanley and BAST invest in Breitenfeld
Morgan Stanley Private Equity and BAST Investment Group have acquired a 38.5% stake in specialty steel producer Breitenfeld AG from the majority shareholders Fides Privatstiftung and Fortis Privatstiftung, who recently bought back the shares owned by financial investor DZ Equity Partner GmbH.
Breitenfeld AG, which was founded more than 65 years ago, focuses on producing specialty, high-grade steel. Key industries for Breitenfeld’s products include power generation, oil and gas, mechanical engineering, transportation (aviation and shipbuilding) and tool steel. The company's specialty steel plant is located in Mitterdorf/Wartberg in Styria, where it also operates a forgery.
Of the 38.5% stake, approximately 90% will be owned by Morgan Stanley Private Equity. Fides Privatstiftung remains the majority owner of Breitenfeld AG.
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