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According to reports in the Austrian media, the sale of Baumax should be completed soon
Austrian media channels are reporting that the sale of Baumax is due to be completed shortly. The Graz property group Supernova is looking to purchase 40 of the 65 Austrian stores, and Obi, Bauhaus and Groupe Adeo are also reported to be interested. The final legal points were set to be clarified on Monday 17 August before investor contracts were signed. Baumax executives and store managers were informed of the current situation by the board on Friday 14 August 2015.
Obi said to be waiting in the wings
In the event of any takeover, Supernova does not apparently intend to operate any DIY stores itself. According to the “Kurier”, the company, which runs more than 30 speciality stores in Austria, “evidently has a German home improvement chain on board as a strategic partner, which will continue to operate a certain number of Baumax outlets under its own name”. It is rumoured that this partner is Obi. The German company is reported to be interested in around 30 Baumax stores in the Czech Republic and Slovakia as well as wanting to buy 30 stores in Austria.
That’s the question: Is Baumax finished? A sale is said to be imminent.
Obi said to be waiting in the wings
In the event of any takeover, Supernova does not apparently intend to operate any DIY stores itself. According to the “Kurier”, the company, which runs more than 30 speciality stores in Austria, “evidently has a German home improvement chain on board as a strategic partner, which will continue to operate a certain number of Baumax outlets under its own name”. It is rumoured that this partner is Obi. The German company is reported to be interested in around 30 Baumax stores in the Czech Republic and Slovakia as well as wanting to buy 30 stores in Austria.
That’s the question: Is Baumax finished? A sale is said to be imminent.
