Confirmation of acquisition plans

The planned acquisition of Wolf-Garten by MTD, an American manufacturer of outdoor power equipment, has now been officially confirmed. Identical press statements released concurrently declare that a fundamental agreement has been reached between MTD Products and the administrators of the insolvent Wolf-Garten group on the further financial support that is to lead to the acquisition of the company. There is not expected to be any problem in gaining the approval of the competition authority.