November 20, 2019 / 5:06 PM / 4 months ago

SAP founder and chairman sells 100 million euro stake, holding now 6.2%

FILE PHOTO: Hasso Plattner, Chairman of the Supervisory Board of SAP attends the company's annual general meeting in Mannheim, Germany, May 15, 2019. REUTERS/Ralph Orlowski

BERLIN (Reuters) - Hasso Plattner, co-founder and chairman of German software house SAP, has sold a stake worth around 100 million euros ($111 million), putting a slight dent in his multi-billion-euro holding.

The divestment, disclosed in a series of regulatory filings, would reduce Plattner’s holding in Europe’s most valuable technology firm to an estimated 6.2% from the 6.3% disclosed in February of this year, according to an SAP spokesman.

Plattner, 75, founded SAP in the early 1970s with a group of former colleagues from IBM. He continues to exert great influence over the company, orchestrating the hiring of co-CEOs Jennifer Morgan and Christian Klein last month.

Reporting by Douglas Busvine; Editing by Kirsten Donovan

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