November 24, 2017

Praktiker’s main shareholder wants to close stores in Eastern Europe

Maseltov is the main shareholder of German DIY retailer Praktiker.  A Maseltov representative told Financial Times Deutschland (FTD) that the shareholder wants the company to close its operations in Eastern Europe. Austrian investment fund Maseltov owns 10 % of Praktiker and wants to convince other shareholders at the company’s future shareholder meeting of the necessity to sell the group’s operations in Eastern Europe, according to Isabella de Krassny, fund manager and spokesperson of Maseltov. Praktiker’s second largest shareholder is another Austrian investment fund, Semper Constantia, with a 5.01 % participation. Selling its subsidiaries in Eastern Europe could bring Praktiker between EUR 50 million and EUR 70 million estimates FTD.

Source: Business-Review (read more)

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