In its article, the Wort conveys that the shares were sold to SMS Group, Paul Wurth’s German parent company.
The Luxembourg government owned the shares together with the State Bank and Savings Fund (Banque et Caisse d’Épargne de l’État) and the SNCI bank (Société Nationale de Crédit et d’Investissement). This means that the Luxembourgish company is now fully in the hands of German shareholders.
Paul Wurth became part of SMS Group in 2012. The German company has been struggling financially for some amount of time and is planning massive job cuts.
