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Report: Blackstone Eyeing German Department Store

FRANKFURT (Reuters) – U.S. private equity firm Blackstone (BX.N) is looking into the possibility of buying Cologne department store chain Kaufhof, part of the Metro group (MEOG.DE), German business daily Handelsblatt said in an abstract of a story due to be published on Monday.

The paper cited works council sources.

A spokesman for Metro AG said in a written statement that his company was in preliminary and open-ended talks about Kaufhof with several possible investors but he would not name names.

“We do not have time pressure regarding the sale of Galeria Kaufhof,” he said.

“The stores are doing well and we will only sell Kaufhof at good conditions,” he said.

Blackstone was not immediately available to comment.

(Reporting by Eva Kuehnen and Vera Eckert; editing by Elaine Hardcastle)