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Reuters
Published
Sep 21, 2009
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Arcandor's Primondo nearing sale

By
Reuters
Published
Sep 21, 2009

FRANKFURT, Sept 21 (Reuters) - The mail-order division of insolvent German retailer Arcandor (AROG.DE) is likely to be sold in October, a spokesman for the administrator said, confirming a report that a sale was on the cards in the coming weeks.

KarstadtQuelle
www.Arcandor.com

Joerg Nerlich, who is a part of the insolvency administrator team, had said last Friday (18 September) that he hopes an agreement will be reached in October or November, though it would more likely be in October, a spokesman for the administrator's team told Reuters on Monday 21 September.

According to the spokesman Nerlich had said that Primondo has attracted interest from four parties.

Financial Times Deutschland said on Monday 21 September that financial investors Cerberus [CBS.UL], Golden Gate and Sun are among the four potential buyers examining the books of Primondo as well as Quelle, a unit of Primondo.

The report said Primondo might be sold in the coming weeks.

Arcandor filed for insolvency in June after its request for state aid was turned down. (Reporting by Marilyn Gerlach; Editing by Greg Mahlich)

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