The Business Times
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BMW heir seeks exemption from takeover bid rule

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Published Wed, Aug 12, 2015 · 09:50 PM

Frankfurt

STEFAN Quandt has asked German regulator Bafin to excuse him from takeover rules that otherwise could force him to make an offer to buy the whole of BMW, a spokesman for the Quandt family told Reuters on Tuesday.

Following the death of BMW shareholder Johanna Maria Quandt last week, a 16.7 per cent voting stake in the German carmaker has been passed on to her two children.

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