A major change has taken place behind the scenes at Xing, the business networking company based in Hamburg, Germany. Burda Media is now the primary shareholder due to a transaction that saw it purchase a lot of stock from Cinco Capital GmbH.
Burda bought a whopping 1,323,041 shares for €36.50 each (which works out to about $72.3 million). It controls a 25.1 percent stake in Xing as a result. This wasn't any sort of hostile takeover, though.
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