Business & Finance In Brief
This article was originally published in The Rose Sheet
Executive Summary
Beiersdorf: Hamburg, Germany Senate in talks with local investors regarding purchase of shares in Hamburg-based Beiersdorf following reports that German insurer Allianz is looking to sell its 43.6% stake in the company, Senate spokesperson says. Senate aims to "do anything possible to assure that Beiersdorf will work further on in Hamburg as long as possible," according to aide. Senate notes Beiersdorf is "extremely important" to the city, with 4,800 employees and tax contributions of about $233 mil. (€1=$1.17). Procter & Gamble has reportedly been shopping for Beiersdorf, and Tchibo Group recently stated it would like to increase its stake in the company (1"The Rose Sheet" Aug. 18, 2003, p. 6)...