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Mülheim an der Ruhr, GERMANY -- Tengelmann, based here, the parent company of the Great Atlantic & Pacific Tea Co., is interested in finding a partner for Montvale, N.J.-based A&P, said c.e.o. Karl-Erivan Haub in an interview published last week.
Haub told the Financial Times Deutschland last week that he wasn't happy with the U.S. chain's financial performance. "We will not sell A&P, but possibly we will give up a stake to another company," he said. If such a deal were to be struck, he added, Tengelmann would retain a considerable share in A&P.
The Tenglemann c.e.o. also said his company was open to acquisition opportunities after a period of restructuring. He noted that Tengelmann would only seek to acquire businesses that were a good fit with the company and that were an appropriate price, especially home improvement and clothing stores.