Germany's Hertie not up for sale

British private investment group Dawnay Day, which owns German department store chain Hertie, said on Monday that Hertie was not up for sale, denying a report in a German newspaper.

"The company is not up for sale and both management and
owners are satisfied with the development of the business, which is going
according to plan," Dawnay Day said in a statement.
The Handelsblatt newspaper reported earlier that Dawnay Day
was planning to sell the 70 or so stores it had bought from German retailer
Arcandor, previously known as KarstadtQuelle AG, in 2005. Dawnay Day bought 74
Hertie stores from KarstadtQuelle together with Hilco and now holds 85 pct of
the store chain. Dawnay Day said on Monday the Handelsblatt report had "no
substance".