Stefan Quandt Becomes BMW’s Controllling Shareholder

Stefan Quandt has amassed a 25.8% stake in BMW, giving him the ability to singlehandedly block any unwanted takeover of the company.

The Quant family has controlled the company for decades with its combined 46.8% holding. German law requires a stake of more than 75% to buy a company.

Reuters reports that a regulatory filing shows Stefan increased his personal equity in BMW by 8.4 percentage points with shares he inherited from his mother Johanna, who died in 2015 at age 89.

Johanna’s 16.8% stake was split equally between Stefan and his sister Susanne, who now owns 21% of BMW. The Quant family reiterates that it has no plan to sell its equity in the carmaker.