August 5, 2015 / 5:44 PM / in 2 years

Death of Johanna Quandt will not affect Quandt family's stake in BMW: spokesman

A BMW emblem is pictured in New York City, in this April 2, 2015 file photo. REUTERS/Eric Thayer/Files

FRANKFURT (Reuters) - The death of Johanna Maria Quandt, head of the family which has a controlling stake in BMW (BMWG.DE), will not affect the family’s shareholding in the German carmaker, a spokesman said.

Johanna Quandt died on Monday in Bad Homburg, Germany at the age of 89, the spokesman for the family said on Wednesday. The Quandt family has a 46.6 percent stake in BMW, including a 16.7 percent stake owned by Johanna Quandt.

“The stake will remain within the family,” spokesman Joerg Appelhans said.

Johanna Quandt was the wife of Herbert Quandt, the German industrialist credited with BMW’s revival in the post-war years, who died in 1982.

Johanna Quandt’s children are also shareholders in BMW: Stefan Quandt has a 17.4 percent stake, and his sister Susanne Klatten holds a 12.5 percent stake.

Reporting by Edward Taylor; Editing by Susan Fenton

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