April 23, 2014 10:18 PM ET

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Company Overview of RAG-Stiftung

Company Overview

RAG-Stiftung is a civil law foundation that manages the spin-off and mine closures of coal mining divisions of RAG Group and the non-coal mining activities of Evonik Group. RAG-Stiftung was founded in 2007 and is based in Essen, Germany.

Rüttenscheider Straße 1-3

Essen,  45128

Germany

Founded in 2007

Phone:

49 201 801 3320

Fax:

49 201 801 3400

Key Executives for RAG-Stiftung

Chief Executive Officer
Chief Financial Officer
Compensation as of Fiscal Year 2013.

RAG-Stiftung Key Developments

RAG Seeks Acquisitions

RAG-Stiftung is seeking acquisitions. RAG's future plans include investing in medium-sized German-based companies, which are not active in the chemical industry.

RAG-Stiftung Denies Interest In Lanxess

RAG-Stiftung which holds a 68% majority in Evonik Industries AG (DB:EVK) is not interested in acquiring Lanxess AG (XTRA:LXS) but would rather reduce its exposure to the chemicals sector. RAG Chief Executive Werner Muller said RAG was too exposed to the chemicals sector and would seek to reduce its stake in Evonik over the long term. However, RAG had no immediate plans to reduce the stake, he added. Muller said RAG was not interested in taking a stake in LANXESS, responding to repeated speculation that Evonik may want to take over its Germany-based rival. Muller said RAG was rather working on plans to take long-term majority stakes in German medium-sized firmsthat are not exposed to the chemical sector.

RAG Intends To Reduce Evonik Stake

RAG-Stiftung intends to reduce its stake in Evonik Industries AG (DB:EVK) to over 25%. Werner Mueller, Chief Executive Officer of RAG said, "Sooner or later we will sell Evonik shares and we aim to reduce our stake in the long term to over 25%."

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