AUSTRIA: Tengelmann coy over "Spar bid for Plus"
Spar has been linked with a EUR100m (US$146.8m) bid for the Austrian retail outlets of German conglomerate Tengelmann.
Spar, the Netherlands-based convenience retailer, has tabled the offer for Tengelmann's 360 Zielpunkt and Plus stores in Austria.
A takeover would see Spar surpass rival Rewe in terms of market share in Austria, according to the Financial Times Deutschland.
Spar officials could not be reached for comment, while Tengelmann was coy about whether it had received any firm bids for the business.
"We are holding negotiations with potential co-operation partners in all countries in which Plus is represented, in order to be able to further develop Plus strategically and thus ensure the long-term success of the company in the market," Tengelmann told just-food this morning (14 November).
Tengelmann, which owns US retail group A&P, has been in talks to sell a majority stake in its Plus business in Germany to Rewe.
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