Nuremberg –Groga Beteiligungsgesellschaft mbH of Nuremberg has sold its shares in LEONI AG. Via Groga, the Westphalia-based automotive component supplier Hella KGaA Hueck & Co. and Nürnberger Lebensversicherung AG held a total of 19.9 percent (5,917,500 shares) in the subscribed share capital of LEONI AG. The shares were sold to a wide circle of institutional investors. As part of the transaction, Nürnberger Lebensversicherung acquired 891,000 shares and will thus in future directly hold a three percent stake in LEONI. Based on assessment of LEONI’s Management Board, the increase in the free float to 100 percent will have a positive effect on the liquidity of LEONI shares and thus further strengthen the Company's position in the MDAX.

The automotive component supplier Hella and LEONI have been collaborating very closely for some years, spawning the Intedis joint venture in 2001. The Würzburg-based JV company, in which the two partners hold equal 50 percent shares, focuses on developing complete wiring systems with integrated electronics. The Intedis joint venture, which is successfully established in the market, will continue to be run as a key element in LEONI’s development work.