Hellweg has teamed up with former Max Bahr chief Dirk Moehrle and is in advanced talks to buy 73 Max Bahr stores for more than 100 million euros ($136 million).
However, Hellweg has struggled to line up financing for the transaction and trade credit insurance, which is vital to keep the business afloat. Hellweg is hoping to strike a deal by early next week, one of the people familiar with the situation said.
The administrator declined to comment, while Hellweg and Praktiker were not immediately available for comment. ($1=0.7356 euros) (Reporting by Arno Schuetze and Alexander Hübner; Editing by Greg Mahlich)
- Link this
- Share this
- Digg this
- Email
- Reprints
0 comments:
Post a Comment