Arcandor Considers Mail-Order Unit Sale

FRANKFURT (Reuters) – The mail-order division of insolvent German retailer Arcandor (AROG.DE) is likely to be sold in October, a spokesman for the administrator said, confirming a report that a sale was on the cards in the coming weeks.

Joerg Nerlich, who is a part of the insolvency administrator team, had said last Friday that he hopes an agreement will be reached in October or November, though it would more likely be in October, a spokesman for the administrator’s team told Reuters on Monday.

According to the spokesman Nerlich had said that Primondo has attracted interest from four parties.

Financial Times Deutschland said on Monday that financial investors Cerberus [CBS.UL], Golden Gate and Sun are among the four potential buyers examining the books of Primondo as well as Quelle, a unit of Primondo.

The report said Primondo might be sold in the coming weeks.

Arcandor filed for insolvency in June after its request for state aid was turned down. (Reporting by Marilyn Gerlach; Editing by Greg Mahlich)