Haniel may make buys from start of year; interested in high-quality assets in services, high-tech
Haniel, the German family-owned business group, may make acquisitions from the start of next year, with an emphasis on high-quality assets, according to a report by Frankfurter Allgemeine.
The German-language daily cited Chief Executive Stephan Gemkow as saying that Haniel is not under pressure and has patience and time, but that it would be good to invest in a suitable acquisition soon.
The report said Gemkow aims, in the mid term, to control up to ten companies through Haniel, and added that there is a budget exceeding EUR 1bn available. The aim is to make Haniel less dependent on its 30% stake in the listed retail group Metro, the report said.
Gemkow said the biggest obstacle to the group making new buys is the deficient quality of available companies.
The report said Haniel is interested in service companies, not only ones connected with retail, and in high-tech companies. It is also interested in companies that are not excessively capital intensive. Haniel will not take stakes in start-up companies or listed companies, the article noted.
Source Frankfurter Allgemeine Zeitung