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Ownership and Management

January 15, 2015

Mexican billionaire Carlos Slim has become the largest shareholder in fourth-generation family business The New York Times Company, increasing his stake to nearly 17%, but the Sulzberger family will retain control of the media giant through its dual-class share structure.

Mexican billionaire Carlos Slim has become the largest shareholder in fourth-generation family business The New York Times Company, increasing his stake to nearly 17%, but the Sulzberger family will retain control of the media giant through its dual-class share structure.

It follows a bumpy year for the 164-year-old company, in which it continued to find its feet in the digital era, and also saw a mishandled staff changes at the senior editorial level.

January 13, 2015

A $1.25 billion share sale at a subsidiary of South Korean family-owned conglomerate Hyundai has flopped, potentially stalling succession between the second and third generations.

A $1.25 billion (€1.06 billion) share sale at a subsidiary of South Korean family-owned conglomerate Hyundai has flopped, potentially stalling succession between the second and third generations.

Despite a discount on the share price of up to 12%, the Chung family failed to reduce its 43% in Hyundai Glovis, the group’s logistics subsidiary.

December 17, 2014

Germany’s highest court has this morning ruled a 2009 law that provides tax breaks and exceptions on inheritance for the country’s family business illegal and unconstitutional.

Germany’s highest court has this morning ruled a 2009 law that provides tax breaks and exceptions on inheritance for the country’s family businesses illegal and unconstitutional.

The Federal Constitutional Court said the law violated the principle of fair taxation as it provides special treatment to some companies.

But family business advocates say the new ruling could unfairly disadvantage firms that are family owned, compared to competitors that don't face inheritance tax bills.

December 16, 2014

Women make up only 16% of family business boards in Continental Europe’s four largest economies, and only 10% of boards in Germany, new research has revealed.

Women make up only 16% of family business boards in Continental Europe’s four largest economies, and only 10% of boards in Germany, new research has revealed.

The 2014 Survey of Corporate Governance Practices in European Family Businesses examined board composition, board efficiency, succession planning and chief executive/chairman demographics.

December 15, 2014

A chance discovery in a bookshop led Guy Spier to value investing – and a $650,100 lunch with Warren Buffett. CampdenFB found out how the investment philosophy led him down a different path – both as an investor and a person. 

Forget about bonds, forget real estate, forget venture capital. If Guy Spier were the principal of a €5 billion family office he would invest virtually everything in a handful of substantial – but undervalued – listed companies.

December 9, 2014

Six months after the death of First Allied Corporation founder Malcolm Glazer, his son Edward has put his inherited stake in Manchester United up for sale, worth almost £30 million (€38 million).

Six months after the death of First Allied Corporation founder Malcolm Glazer, his son Edward has put his inherited stake in Manchester United up for sale, worth almost £30 million (€38 million).

December 2, 2014

Erramon Aboitiz, the fourth-gen chief executive officer of Filipino family business Aboitiz Equity Ventures, has postponed his retirement plans for three years in order to ensure a smooth leadership transition for his children.

Erramon Aboitiz, the fourth-gen chief executive officer of Filipino family business Aboitiz Equity Ventures, has postponed his retirement plans for three years in order to ensure a smooth leadership transition for his children.

According to a company statement, the board extended Aboitiz’s tenure in order to ensure the group’s long-term goals and said the 58-year-old would now retire in late 2019.

November 28, 2014

Spain’s Koplowitz family has halved its stake in multibillion euro infrastructure company Fomento de Construcciones y Contratas, in a deal with the family of Mexican entrepreneur Carlos Slim.

Spain’s Koplowitz family has halved its stake in multibillion euro infrastructure company Fomento de Construcciones y Contratas, in a deal with the family of Mexican entrepreneur Carlos Slim.

The deal is part of a $1.3 billion capital raise, which aims to reduce the company’s debt. It is the first time in the company’s eight-decade history that the Koplowitz family won’t have a controlling majority stake in the firm.

November 26, 2014

Investor confidence is driving more European family offices to buy into illiquid investments, according to an executive at one of Europe’s largest multi family offices.

Investor confidence is driving more European family offices to buy into illiquid investments, according to an executive at one of Europe’s largest multi family offices.

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