Haniel actively seeking possible buys, aided by 25 finance institutions
Haniel, the family-controlled German conglomerate, is seeking acquisitions on the back of a roughly EUR 1.2bn influx from its sale of the drug wholesaler Celesio, Boersen-Zeitung reported.
The article cited a Haniel spokesperson as saying that it is actively seeking possible buys and is researching opportunities put forward by banks. It is working with about 25 financing institutions in its search.
The report said Haniel Chief Executive Stephan Gemkow is interested in deals worth between EUR 150m and EUR 600m. The spokesperson said there is no focus on a particular sector, and that new engagements would need to be in keeping with large-scale trends. Haniel is seeking targets in which it would be able to remain invested for the long-term, according to the spokesperson.
Haniel is interested in majority buys but not complete takeovers, and is interested in midsized companies, according to the spokesperson. There is no upcoming deal to be spoken of at this time, the spokesperson was cited as saying. On the strength of the Celesio sale, since the end of 2013 Haniel has lowered its net financial debts by EUR 500m to EUR 1.1bn, according to the article.
Source Boersen-Zeitung