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Beiersdorf Sales Decline In First Half Despite Gains From Nivea, Eucerin

This article was originally published in The Rose Sheet

Executive Summary

Beiersdorf's Nivea skin caresales grew 5.8%, adjusted for currency translation effects, in the first half of the year, contributing to Cosmed division revenues of $1.83 bil. (€1=$1.13), the company reported Aug. 12 in an interim report

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Beiersdorf Dodges P&G: Tchibo Group Assumes Majority Stake

A group of Hamburg, Germany investors led by Tchibo Group will purchase insurer Allianz' 40% stake in Beiersdorf, preserving German control of the Nivea marketer. Announced Oct. 23, the deal makes it less likely Procter & Gamble will make a bid for the firm

Beiersdorf Dodges P&G: Tchibo Group Assumes Majority Stake

A group of Hamburg, Germany investors led by Tchibo Group will purchase insurer Allianz' 40% stake in Beiersdorf, preserving German control of the Nivea marketer. Announced Oct. 23, the deal makes it less likely Procter & Gamble will make a bid for the firm

Business & Finance In Brief

Beiersdorf: Hamburg, Germany Senate in talks with local investors regarding purchase of shares in Hamburg-based Beiersdorf following reports that German insurer Allianz is looking to sell its 43.6% stake in the company, Senate spokesperson says. Senate aims to "do anything possible to assure that Beiersdorf will work further on in Hamburg as long as possible," according to aide. Senate notes Beiersdorf is "extremely important" to the city, with 4,800 employees and tax contributions of about $233 mil. (€1=$1.17). Procter & Gamble has reportedly been shopping for Beiersdorf, and Tchibo Group recently stated it would like to increase its stake in the company (1"The Rose Sheet" Aug. 18, 2003, p. 6)...

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