MPF announced its intention to buy Praktiker

The MPF Holding would purchase and recapitalize the Praktiker stores in Hungary; the Singapore-based parent company of the group together with a Chinese investor officially announced their buying intention – MPF told MTI on Wednesday.

Ambrus András MPF’s press spokesman told that the MPF Holding would purchase the nineteen Hungarian Praktiker large stores and the two Praktiker mini-stores as well as MPF would carry out their recapitalization from own sources. The group plans an almost 10 million euros investment at the DIY chain, ensuring the stable business background for the suppliers, and the retention of nearly 1,200 jobs. (MTI)