UPDATE 3-Celesio and owner Haniel smooth over takeover rift

* Says CEO, Chairman concur on Brazil takeover

* Haniel earlier said has "legal and financial" concerns

* Board decision postponed - sources

* Celesio cites lack of quorum in e-mail on Tuesday

* Celesio shares pare gains, close up 3.7 pct

(Releads with agreement)

By Frank Siebelt, Nikola Rotscheroth and Ludwig Burger

FRANKFURT, July 1 (Reuters) - Celesio (CLSGn.DE) said its chief executive and chairman would jointly pursue the German drug distributor's foray into the Brazilian market, smoothing over differences that had emerged between the two.

Celesio's majority shareholder Haniel earlier on Wednesday said that the family behind the privately-held conglomerate and its CEO Eckhard Cordes, who is chairman of Celesio, had "legal and financial concerns" about Celesio's planned purchase of Brazilian drugs distributor Panpharma.

Cordes had however been briefed on the acquisition project well in advance, Haniel added.

The deal, which was announced on Monday, was due to be rubber-stamped by Celesio's supervisory board on Tuesday, but the matter was deferred to the next meeting amid concern about the speed of the company's expansion, sources with knowledge of the matter told Reuters.

The acquisition of Brazil's largest drugs distributor, which generated sales of 3 billion real ($1.55 billion) last year, marks Celesio's first major expansion step outside Europe and is in line with the company's strategy to grow in emerging markets.

Celesio CEO Fritz Oesterle and Chairman Cordes "have confirmed their consent this afternoon in a phone conversation" to drive the takeover deal to a conclusion, Celesio said in its statement.

The stock market had initially welcomed the deal and Celesio's shares gained more than 13 percent this week before Wednesday's news that Haniel's Cordes had put the brakes on the approval process.

The shares pared gains amid fear the deal might collapse, but still managed to close 3.7 percent higher on Wednesday.

"Considering Haniel's stake, they can veto this, which would not be good," a London-based analyst said earlier.