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Reuters
Published
Nov 27, 2014
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Douglas CEO says co-owner Advent may seek exit via listing

By
Reuters
Published
Nov 27, 2014

DUESSELDORF, Germany - U.S. buyout group Advent may seek to return Germany's Douglas to the stock exchange in a move to offload its stake in the group, the retailer's chief executive said on Thursday.


The private equity group was "a temporary partner", Henning Kreke said, adding that it still had to be determined when and how an exit would happen.

The Kreke family, which holds a minority stake in Douglas, would not exit the company, he said.

Douglas was taken private by Advent and the Kreke family last year. It is investing to become Europe's top perfumes retailer while selling off underperforming businesses.

With regard to its Thalia book store division, which Douglas aims to sell according to people familiar with the matter, Kreke said Douglas would operate an "active portfolio strategy".

There was "no hurry" as the unit was profitable, Kreke said.

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