Defense Contractor Sold for €1 Is One of Europe's Hottest Stocks
A €1 bet on a struggling Austrian engine maker has turned into one of the hottest investments in Europe thanks to the boom in defense stocks.
German private equity firm Mutares SE paid the token price for Steyr Motors AG back in 2022 and is now reaping the gains — both through the 1,600% surge in Steyr's shares and in its own stock price, which doubled in just six months.
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