Obi to take over Baumax?

According to information from the German magazine “Lebensmittelzeitung“, Obi wants to take over the Austrian market leader Baumax. The report states that the German market leader is negotiating with the banks, which support Baumax, about a takeover of the ailing DIY operator’s subsidiaries. In focus are the Baumax operations in Austria, the Czech Republic, Slovakia, Hungary and Slovenia. The takeover would mean that Obi could increase its turnover by around € 1.2 bn.