Douglas says Advent, Kreke family raise squeeze out price

FRANKFURT Fri May 24, 2013 9:53am EDT

FRANKFURT May 24 (Reuters) - German retailer Douglas Holding said Beauty Holding would increase the price it would pay to squeeze out minority shareholders to 38.00 euros ($49) per share from 37.64 euros.

Beauty Holding is the investment vehicle of private equity group Advent International and the Kreke family behind Douglas Holding's chief executive Henning Kreke.

Douglas said on Friday that Beauty Holding will propose the planned mark-up at the Douglas shareholders meeting scheduled for May 28. ($1 = 0.7751 euros) (Reporting by Ludwig Burger; Editing by Peter Dinkloh)