Goldsmith Capital Partners interested in Kaufhof

FRANKFURT, May 7 (BestGrowthStock) – Asset management company
Goldsmith Capital Partners is interested in Metro’s (MEOG.DE: )
department store chain Kaufhof, which the German retailer is
trying to sell.

A spokesman for Goldsmith said on Friday that the company
had been interested in Kaufhof for quite some time.

He declined to confirm a report by German newspaper
Lebensmittelzeitung that Goldsmith had already made an offer for
Kaufhof. Metro said it would neither confirm nor deny names of
interested investors.

Goldsmith Capital Partners, founded in 2007 by investor
Clemens Vedder, started the hedge fund Blacksmith. Last year,
Vedder had tried to raise his stake in German property company
IVG (IVGG.DE: ), but failed to do so in the end.

Metro is trying to find a buyer for its Kaufhof department
stores and has been in touch with several investors, but is so
far not in concrete negotiations, it said recently.

Metro Chief Executive Eckhard Cordes said last week that 2
billion to 3 billion euros ($2.7 billion to $4 billion) would be
a “fair price” for Kaufhof, including real estate.

Media reports said in March that U.S. private equity company
Blackstone (BX.N: ) was also interested in the department stores.

Kaufhof’s local rival Karstadt, which was part of the German
retail and tourism group Arcandor (AROG.DE: ) that filed for
insolvency in June last year, is also up for grabs.

Sources told Reuters in March that there are several
investors who are looking at both companies to potentially merge
them. [ID:nLDE62L0EN]

Stock Today
($1=.7453 Euro)
(Reporting by Anneli Palmen and Tom Kaeckenhoff, writing by Eva
Kuehnen)

Goldsmith Capital Partners interested in Kaufhof