Picanol nv (ENXTBR:PIC) acquired a 10% stake in Rieter Holding AG (SWX:RIEN) from Michael Pieper for CHF 50.2 million on March 16, 2021. Under the terms of transaction, Picanol purchased 0.467 million shares at a price of CHF 107.5 per share. Michael Pieper is a member of the Board of Directors of Rieter Holding AG. Dieter Gericke of Homburger AG and Jan Peeters of Stibbe B.V. Cvba acted as legal advisors to Picanol nv.

Picanol nv (ENXTBR:PIC) completed the acquisition of a 10% stake in Rieter Holding AG (SWX:RIEN) from Michael Pieper on March 16, 2021.