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Financials

Germany's Toennies declines to comment on report it is seeking a buyer

BERLIN, March 19 (Reuters) - Germany’s largest meat processor Toennies on Friday declined to comment on a report that it was exploring a sale of the company, saying it was growing and expanding and that the next generation of the family was actively taking over management.

“We do not comment on market rumours. After all, it is we who create the market and push for expansion,” company owners Clemens Toennies and Maximilian Toennies said in a letter to staff that was seen by Reuters.

Bloomberg News reported on Thursday that the family owners were seeking buyers for the 50-year old firm and that a deal could value it at 4 billion euros ($4.77 billion).

$1 = 0.8379 euros Reporting by Matthias Inveradi; Writing by Riham Alkousaa; Editing by Maria Sheahan

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