FRANKFURT, Nov 21 (Reuters) - German drugstore entrepreneur Erwin Mueller wants to take a big stake in fragrance-to-fashion retailer Douglas, he told a German magazine.
'Douglas is my second supporting leg,' Mueller told Focus magazine in a story released ahead of publication on Monday.
Mueller said cooperation between his eponymous firm and the Douglas chain in purchasing and logistics could cut costs.
Focus, without citing sources, said Mueller recently acquired a 3 percent stake in Douglas, adding he also planned shortly to take control of a further 14 percent acquired on his behalf by Swiss Bank Sarasin & Cie.
Mueller's aim is an 18 percent stake in Douglas, the magazine said.
Douglas announced in early October that Bank Sarasin had acquired a 10.8 percent voting stake with the aim of making a trading profit.
Mueller, Sarasin and Douglas were not immediately available for comment on Saturday.
Douglas' largest shareholder is the August Oetker Finanzierungs- und Beteiligungs GmbH with a nearly 26 percent stake, while almost 46 percent of the company is in free-float, Douglas' Internet site shows.
Oetker was also unavailable for comment on Saturday.
(Additional reporting by Martin Zwiebelberg and Tom Kaeckenhoff; editing by James Jukwey) Keywords: DOUGLAS/MUELLER (Reporting by Jonathan Gould; Reuters Messaging: jonathan.gould.reuters.com@reuters.net; +49 69 7565 1242) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
'Douglas is my second supporting leg,' Mueller told Focus magazine in a story released ahead of publication on Monday.
Mueller said cooperation between his eponymous firm and the Douglas chain in purchasing and logistics could cut costs.
Focus, without citing sources, said Mueller recently acquired a 3 percent stake in Douglas, adding he also planned shortly to take control of a further 14 percent acquired on his behalf by Swiss Bank Sarasin & Cie.
Mueller's aim is an 18 percent stake in Douglas, the magazine said.
Douglas announced in early October that Bank Sarasin had acquired a 10.8 percent voting stake with the aim of making a trading profit.
Mueller, Sarasin and Douglas were not immediately available for comment on Saturday.
Douglas' largest shareholder is the August Oetker Finanzierungs- und Beteiligungs GmbH with a nearly 26 percent stake, while almost 46 percent of the company is in free-float, Douglas' Internet site shows.
Oetker was also unavailable for comment on Saturday.
(Additional reporting by Martin Zwiebelberg and Tom Kaeckenhoff; editing by James Jukwey) Keywords: DOUGLAS/MUELLER (Reporting by Jonathan Gould; Reuters Messaging: jonathan.gould.reuters.com@reuters.net; +49 69 7565 1242) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
© 2009 AFX News
