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)
- Missing jet may have strayed toward Andaman Sea: Malaysian air force |
- NYC buildings explosion kills 2, more missing
- Malaysia military source says missing jet veered to west |
- Exclusive: EU approves framework for asset freezes, travel bans on Russia
- EU moves towards travel bans, asset freezes for Russians |