NETHERLANDS: Laurus keeps focus despite buyout talk
Dutch retailer Laurus has insisted it remains focused on the on-going reorganisation at the company despite takeover speculation swirling around the business.
Shares in Laurus surged by 12.5% yesterday (24 July) as rumours persisted that French retailer Casino, which owns a 45% stake in the firm, could make an offer for the rest of the company.
However, Laurus refused to be drawn on the speculation and told just-food today that it would focus on the restructuring.
In recent months, Laurus has decided to focus on its flagship Super de Boer stores. The plans have seen it sell its Edah and Konmar stores, while consolidating its distribution network and cutting jobs at its head office. Laurus is planning to offload 49 Super de Boer stores to further dtreamline the business.
"We give no comment on speculation or on the development of our stock price," a Laurus spokesperson said. "We want to focus on the reorganisation of the company so that by 2008, we have the Super de Boer organisation as it should be."
The spokesperson refused to comment on any meetings between Laurus' management and Casino, saying there were "confidential".
Officials at Casino refused to comment.
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