Blackrock Increases Stake in Solvay to 3.95%

Belgium's Solvay SA (SOLB.BT) said Friday that BlackRock Inc. (BLK) had increased its stake in the company to more than 3%.

The U.S. investment fund now directly holds 3.35% of the company's voting rights, Solvay said. Together with the voting rights held through equivalent financial instruments, BlackRock now controls 3.95% of existing voting rights, Solvay added.

According to Belgian transparency legislation, any entity that crosses a 3% ownership threshold in a Belgian company must report its stake to the issuer.

Write to Nathan Allen at

(END) Dow Jones Newswires

November 24, 2017 02:36 ET (07:36 GMT)