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Thiele Family Continues To Hold Majority Stake In Knorr-Bremse

The Thiele family will continue to ensure the continuity and success of Knorr-Bremse through a foundation as its most important anchor shareholder, Knorr-Bremse said in a statement.

Under the terms of Heinz Hermann Thiele's will, the majority stake in the company (59%) held through holding companies will in future be transferred to a family foundation. Another major shareholder in the holding companies continues to be Thiele's daughter Julia Thiele-Schürhoff. The Thiele family will thus continue to be closely associated with Knorr-Bremse.

Heinz Hermann Thiele, 79, was a German businessman, and the chairman of Knorr-Bremse AG, a German automobile brakes manufacturer, and chairman of Vossloh. He died on 23 February 2021. He was also the largest shareholder in the German carrier Lufthansa AG, at the time of his death. With a net worth of $20.2 billion, he was the fourth richest person in Germany at the time of his death.

Formally, the holding shares of the deceased will initially be held by his wife Nadia Thiele and transferred to the family foundation by virtue of his will. The establishment of the foundation is to be completed by the end of this year and implemented by the executor of the will and long-time confidant of Heinz Hermann Thiele, the auditor and tax consultant Robin Brühmüller. Until then, the shares will be under execution of the will.

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