Home Business & Finance SAP founder Hopp restructures CureVac major shareholder Dievini

SAP founder Hopp restructures CureVac major shareholder Dievini

SAP founder Hopp restructures CureVac major shareholder Dievini

Munich (Reuters) – SAP founder Dietmar Hopp may sell more shares in vaccine developer CureVac in the next few months than before. Hopps biotech investment company Dievini has renegotiated the investor contract with the state bank KfW, which had invested 300 million euros in CureVac shortly before the IPO in summer 2020. The 80-year-old entrepreneur then reserves the right to sell CureVac shares for up to 450 million euros until mid-August, according to a statement to the US Securities and Exchange Commission. So far it was a maximum of 250 million euros. Specifically, Hopp only wants to sell a few CureVac shares so that he can finance the conversion of Dievini into a pure family holding company, the company said on Friday night. The main thing is the taxes that are due. In addition, neither Dievini nor KfW currently have any plans to sell shares in the Tübingen company. Hopp holds 46 percent of CureVac, almost 42 percent of which is held by Dievini. The billionaire has held a stake in CureVac since 2005. The startup company was considered one of the great hopes in the development of a coronavirus vaccine, but initially suffered a failure because the serum did not work as hoped. The shares, which were issued at $16 each, had risen to $133 on the US technology exchange Nasdaq, but are now worth only $27 after the setback. On Thursday they gave way by five percent. With the restructuring of Dievini, Hopp is preparing for his inheritance. The three Dievini managing directors – above all Friedrich von Bohlen and Halbach – sell their shares and receive CureVac shares in return, among other things. Together they hold around five percent of Dievini. In the future, apart from Dietmar Hopp, only members of his family will be involved in the holding company. Copyright 2022 Thomson Reuters. Click here for editions.

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