Bayern Munich sell shares to Viessmann in deal estimated at €250m
· Yahoo Sports
Bayern Munich are selling shares from the professional football division to long-time partners Viessmann Generations Group for an estimated €250 million ($281 million).
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Bayern said on Wednesday that Viessmann will acquire 5% of the shares which at the end the transaction will rise to close to 6.7% via an increase in capital. No financial figures were given beyond that.
Bayern regulations stipulate that the parent club must hold 70% of the shares and the remaining 30% can be split among four shareholders. The Viessmann equity package is the fourth and final one, with sports goods makers Adidas, insurers Allianz and car makers Audi the other three.
"This step strengthens the ownership structure of FC Bayern München AG. A further substantial strengthening of our equity base also gives us greater flexibility in a time of constant change," Bayern president Herbert Hainer said.
Viessmann have been a Bayern partner since 2018. The family-owned company operating in more than 40 countries specializes in heating technology products and power grid infrastructure.
The news also means that chairman Max Viessmann is to join Bayern's supervisory board as a 10th member.
"FC Bayern is one of Europe's most successful clubs, with clear values and a strong sense of social responsibility," he said. "We want to play our part in maintaining a strong FC Bayern."