Papag May Buy Hungary's Praktiker Operations
- 13 May 2014 9:00 AM
Swiss registered Papag is likely to buy the Hungarian network of DIY chain Praktiker, Népszabadság learnt from a market source. Papag has already purchased the Praktiker operations in Poland.
Papag is negotiations with the receiver of Praktiker in Germany and reportedly intends to purchase and operate all 19 units of the chain in Hungary.
Praktiker lost Ft 2.5 billion in Hungary on revenue of Ft 27.7 billion in 2012.
Source: Hungary Around the Clock
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