Germany's Douglas says no sale plans at present
FRANKFURT, July 18
FRANKFURT, July 18 (Reuters) - German beauty to books retailer Douglas said it had no plans in place to sell any of its units, contrary to a report in a German magazine.
"There is no sale process for any part of the group," a spokesman said on Thursday.
Douglas CEO Henning Kreke has repeatedly said the group would actively manage its portfolio, both by acquisitions and disposals.
Earlier, Manager Magazin had reported that Douglas, which was taken private by financial investor Advent International and the Kreke family this year, was planning to sell bookstore chain Thalia, confectionary store Hussel and the Appelrath-Cuepper clothing chain.
That would leave Douglas with just its namesake chain of beauty stores and the Christ jewellery shops.
The group sees the two divisions as offering the best chance for international expansion and its new owners have made 500 million euros ($655 million) available for investment in the Douglas chain.
($1 = 0.7637 euros) (Reporting by Alexander Huebner; Writing by Victoria Bryan; Editing by Elaine Hardcastle)
- Exclusive: Malaysia plane probe narrows on mid-air disintegration - source
- Radar showed missing plane may have turned back: Malaysia military
- Missing Malaysian jet may have disintegrated in mid-air: source |
- Malaysian plane presumed crashed; questions over false IDs |
- Merkel raps Putin as Russian forces tighten grip on Crimea |