International Business

Times Staff and Wire Reports

Family Owns 48.1% of BMW: The reclusive Quandt family, one of Germany's wealthiest, was obliged under a new insider trading law to disclose its stake. Bayerische Motoren Werke said in a newspaper announcement that the family had told it that Johanna Quandt owns 17.9% of the ordinary shares, son Stefan owns 17.0% and daughter Susanne owns 13.2%. Their combined stake is worth about $4.65 billion. "We still don't know how much indirect control they have through third parties," an analyst said. Johanna is the widow of Herbert Quandt, who bought about 30% of BMW in 1960 when the firm was ailing.

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