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General

Ceconomy's EUR 1 bln offer to buy out MediaMarkt minority shareholder rebuffed

Friday 24 August 2018 | 17:13 CET | News
The heirs of the late MediaMarkt co-founder Erich Kellerhals have rebuffed a billion-euro offer for their equity stake in the Media-Saturn Group put forth by the electronics retailer and MediaMarkt Saturn parent company Ceconomy, reported German business publication WirtschaftsWoche (WiWo). Ceconomy offered the Kellerhals' firm Convergenta cash and Ceconomy shares amounting to a total of EUR 1 billion in return for the family's equity stake and extensive veto rights in Media-Saturn.

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Categories: General
Companies: Mediamarkt
Countries: Germany
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