KÉSZ Makes Bid For Hungarian Unit Of German DIY Chain Praktiker
- 20 Mar 2014 8:00 AM
Construction company KÉSZ has made a bid to buy the Hungarian unit of German DIY chain Praktiker, Napi Gazdaság reports. The Hungarian construction group, with annual turnover of Ft 70 billion, has made an indicative bid for Praktiker Építési és Barkács Piacok.
KÉSZ will make its final bid once the owner accepts this, the newspaper adds.
The new owners will take over 100% of the stakes and will keep the shops running, sources from Praktiker told Napi Gazdaság.
The cash-strapped retailer incurred Ft 8 billion in losses between 2010 and 2012.
Source: Hungary Around the Clock
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