Haniel will cautiously look to widen portfolio
Haniel, the family-owned German conglomerate, will cautiously look to widen its portfolio in the coming year with a EUR 1bn warchest, Boersen-Zeitung reported.
The German-language daily cited a Christmas communication that said Haniel's management, led by Stephan Gemkow, will choose targets carefully as it pursues a long-term strategy of making more equity investments.
The management will seek new business areas, but many companies do not meet Haniel's criteria while others are simply overpriced, according to the cited communication.
While Haniel recently reduced its stake in the retail group Metro, there is still plenty of scope for it to increase the diversification of its portfolio, the article said, referring to comments from ratings agency Moody's.
Boersen-Zeitung