Haniel on lookout for deals after Celesio stake sale windfall

FRANKFURT Fri Aug 29, 2014 5:20am EDT

FRANKFURT Aug 29 (Reuters) - German investment group Haniel , which owns about 30 percent in retailer Metro has more than 1 billion euros ($1.32 billion) available for acquisitions following the sale of its stake in drug distributor Celesio to U.S.-based McKesson Corp .

"We are now on the lookout for sustainable business models which will help our company to diversify and grow over the long term," Haniel Chief Executive Stephan Gemkow said in a statement on Friday, following the release of first-half results.

Family-owned Haniel said its operating profit increased by 29 percent in the first half to 116 million euros. ($1 = 0.7584 euro) (Reporting by Christoph Steitz, Editing by Edward Taylor)