Germany

Germany

Enercon owner Wobben hands ownership to foundation

GERMANY: Enercon-owner Aloys Wobben is to transfer ownership of his company into a family-owned foundation.

Enercon owner Aloys Wobben... transferring shares to foundation
Enercon owner Aloys Wobben... transferring shares to foundation

The move was announced by Enercon managing director Hans-Dieter Kettwig at the Hannover trade fair.

In a statement to explain the decision, Wobben said: "Securing the future of my company and its employees is something that is very near and dear to me."

The company went on to state the foundation would manage any future transition of the company and to maintain Enercon's independence.  

It is believed the Foundation was launched in order to prevent the company being taken over or being listed on the stock exchange.

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