Hope for Ankerbrot? - Brief Article

Eurofood, Feb 3, 2000

Rumours abound that German bakery group Muller Brot has found a way to help its beleaguered Austrian subsidiary Ankerbrot (see Eurofood, 20 January 2000, p7). It is understood that a group of international investors is to acquire a minority stake in the Muller Brot concern with backdated effect from 1 January 2000. Muller Brot and Ankerbrot are to be brought into a joint holding company, in which the investor group will hold a stake.

One Austrian magazine, Profil, claimed that Ankerbrot' s knight in shining armour is a fund subsidiary of Deutsche Bank Finanzpartner, but this has not been confirmed. The bakery owes the banks some Os800m (??58.1m).