UPDATE 1-Rheinmetall investor sells controlling stake

Newswire

(Adds background, details) FRANKFURT, Nov 29 (Reuters) - Rheinmetall's single largest shareholder, the German Roechling family, has sold its 42.1 percent stake in the firm in a move that is expected to speed consolidation in the German defence industry. A financial source told Reuters on Monday that the Roechlings' common and preferred shares had been placed at 37 euros a share, near Friday's market close, giving the deal an estimated value of some 565 million euros ($737 million). The ...

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