Breaking News

Tchibo and City of Hamburg

November 14, 2005

GERMANY: Tchibo Holding AG has teamed with the city of Hamburg to try to gain control of Beiersdorf AG, pre-empting a potential bid for Procter & Gamble, industry sources said. Tchibo, which owns 30.1% of Beiersdorf, and the city jointly offered to buy some or all of a 43.6% stake owned by Allianz AG, a German insurer, to cement local ownership of the company.
In a letter to Allianz executives, Dieter Ammer, chief executive officer, Tchibo, said the group would pay at least the average price of Beiersdorf during the past 12 months.
“Tchibo will meet with Allianz to make an offer for around 20%, and a consortium will make an offer for the rest,” said a spokesperson. Hamburg is prepared to contribute €1 billion or more to the bid. If the deal is worked out, it would complicate P&G’s efforts to acquire Beiersdorf, company executives said.

  • Fit for Fitness

    Fit for Fitness

    Christine Esposito, Associate Editor||February 21, 2017
    Kinx Active is a new brand targeting women who want beauty products that can stand up to their fitness routines.

  • Cargo Says Aloha To Spring/Summer

    Cargo Says Aloha To Spring/Summer

    Christine Esposito, Associate Editor||February 13, 2017
    Cargo Cosmetics has rolled out its new Spring/Summer collection with Hawiianan singer Anuhea.

  • Cashing In on Coconuts

    Cashing In on Coconuts

    Melissa Meisel, Associate Editor||February 6, 2017
    Organic to Green is making waves for its new oils and eco-friendly packaging.

  • Trade Association Directory 2017

    February 2, 2017
    Contact details of trade associations that serve various segments of our industry and are mentioned frequently in Happi.

  • What the Halal  Is Going On?

    What the Halal Is Going On?

    Imogen Matthews , In-Cosmetics||February 2, 2017
    Demand for these beauty products is surging thanks to a fastgrowing Muslim population.

  • Relief for Sensitive Scalps

    Relief for Sensitive Scalps

    Guadalupe Pellon and Annette Mehling , BASF||February 2, 2017
    BASF researchers detail the attributes of the company’s highly effective hair care system focusing on scalp sensitivity.