Germany's RAG Foundation could sell entire Evonik stake

FRANKFURT, Sept 30 (Reuters) - RAG ​Foundation, the largest shareholder in Evonik EVKn.DE, could sell its entire stake in the German chemicals manufacturer, it said on Wednesday.

• RAG currently holds around 43% of the shares in Evonik, and in the past, has stated its intention to reduce its holding to a blocking minority of 25.1%.

• Competitor BASF has recently sought to take over Evonik.

• “Under the foundation's statutes, a complete disposal of Evonik is possible,” the Essen-based foundation said on Wednesday in response to a query from Reuters.

• With the approval of the foundation's board of trustees, it would be possible to sell additional shares, up to and including a complete divestment, it said.

• The board of trustees is dominated by politicians and trade union representatives.