ABN AMRO BUYS HAGEMEYER DEBT TO HELP RESCUE DEAL

Dec. 1, 2003
ABN AMRO, Amsterdam, has bought a chunk of debt in troubled Hagemeyer NV to help smooth the way for a rescue deal, according to a Reuters report. Hagemeyer

ABN AMRO, Amsterdam, has bought a chunk of debt in troubled Hagemeyer NV to help smooth the way for a rescue deal, according to a Reuters report. Hagemeyer remains in talks over two debt restructuring alternatives. The company said it's currently discussing options to restructure its debt, which on Sept. 30 was approximately $1.1 billion, an increase of approximately $88 million since June 30. Third-quarter sales in Hagemeyer's Professional Products and Services division, which includes its distribution businesses, fell to approximately $1.66 billion from approximately $2.43 billion a year ago.

Got an Item for Bulletin Board?

It's easy to have your company included in the pages of Electrical Wholesaling's Bulletin Board. It's as simple as submitting a description and photographs.

Some of the subjects covered in Bulletin Board include:

  • Charitable Events/Donations
  • Product Promotions
  • Contests
  • Distributor Support/Training
  • Ground Breakings
  • Industry Awards/Recognitions

Send pertinent information to Sarah Tobaben Dolash, Managing Editor, 9800 Metcalf Ave., Overland Park, KS 66212. Or you may e-mail information to [email protected]. All electronic images should be in “jpg,” “tif” or “eps” format at no less than 300 dots per inch. Questions? Call (913) 967-1796.