Motives for and Consequences of Minority Equity Purchases Minority block purchases describe the acquisition of a non controlling equity stake below 50 percent in a corporation. The individual motives behind these transactions can vary significantly across different types of investors and firms. Friedel Drees examines the capital markets’ reaction to the announcements of minority equity purchases in Europe and the U.S. and identifies the potential sources of value creation. He shows that company specific characteristics such as the strategic relatedness between two corporations can have a significant effect on shareholder value. New Outside Blockholders Performance and Governance in Germany Equity Ownership Agency Problems and Shareholder Wealth: Understanding the Unique Role of Corporate Block Owners Minority Equity Ownership and Value Creation: The Role of Corporate Relatedness Concluding Remarks.