Colin
03-05-2004, 05:16 PM
Thought prospective and current owners of Grundig TV's may be
interested in the following...
Colin
-------------------------------------
Brussels approves electronics deal
Brussels on Thursday cleared an €80 million three-way electronics
merger between Grundig, Alba and Beko Elektronik.
The deal between the German, English and Turkish companies
respectively allows Beko to increase its share in the European market
from 3.1 per cent in 2003 to 9.6 per cent in 2007.
Through the venture, Beko also aims to boost ailing Grundig's turnover
to €1 billion in the same time-period.
Beko, a subsidiary of Turkish industrial group Koc Holding , is paying
50 per cent of its €40 million share of the purchase price from
company resources, and the other 50 per cent with a bank credit.
The new owners of Grundig also aim to expand its range of products to
include durable goods such as refrigerators and washing machines and
small household appliances within about a year, Sumerval said.
Beko and Alba will focus on joint operations to market Grundig stock
through sales marketing and research.
Grundig processed the deal after being give the go ahead by a series
of creditor banks, including Deutsche Bank, Dresdner Bank and
Bayerische Landesbank.
http://www.eupolitix.com/EN/News/200404/f63766ec-8c37-4773-a438-4c62bfe0cef9.htm
interested in the following...
Colin
-------------------------------------
Brussels approves electronics deal
Brussels on Thursday cleared an €80 million three-way electronics
merger between Grundig, Alba and Beko Elektronik.
The deal between the German, English and Turkish companies
respectively allows Beko to increase its share in the European market
from 3.1 per cent in 2003 to 9.6 per cent in 2007.
Through the venture, Beko also aims to boost ailing Grundig's turnover
to €1 billion in the same time-period.
Beko, a subsidiary of Turkish industrial group Koc Holding , is paying
50 per cent of its €40 million share of the purchase price from
company resources, and the other 50 per cent with a bank credit.
The new owners of Grundig also aim to expand its range of products to
include durable goods such as refrigerators and washing machines and
small household appliances within about a year, Sumerval said.
Beko and Alba will focus on joint operations to market Grundig stock
through sales marketing and research.
Grundig processed the deal after being give the go ahead by a series
of creditor banks, including Deutsche Bank, Dresdner Bank and
Bayerische Landesbank.
http://www.eupolitix.com/EN/News/200404/f63766ec-8c37-4773-a438-4c62bfe0cef9.htm