Altex resumes talks with funds

The electronics and home appliance retailer Altex is holding talks with two investment funds for the sale of a minority stake in company shares. “We have resumed talks with the same two investment funds as before”, said Dan Ostahie, Altex chairman. Over the course of last year he had repeatedly said that the retailer was in discussions with several investment funds with a view to attracting a 20 – 30 million euro capital inflow. “Talks might lead to both funds keeping a stake in the company,” says Ostahie. The retailer, set up by businessman Dan Ostahie, is the only major player that does not include investment funds among its shareholders. Moreover, one of its direct competitors, Flanco, has closed a deal with another local retailer, Flamingo, specialising in IT and communications. ZF