According to a report by Rheinische Post newspaper, consumer goods company Henkel intends to continue with its plan involving acquisitions despite rising interest rates.
“We have a strong balance sheet, we intend to make further acquisitions,” Carsten Knobel, Henkel’s Chief Executive Officer, told the German media.
“The return of rising interest rates rather benefits us when competing for acquisition targets because we have the best credit ratings thanks to our very solid financial position,” the CEO noted.
Knobel also said that the German group might buy back its operations in Russia at some point in the future.
“We agreed an option to buy back the business within the next ten years as part of the sale,” Knobel told Rheinische Post.
The shares of Henkel AG & Co (HEN3) were last edging up 0.13% (EUR 0.10) on Monday to trade at EUR 74.90 on Xetra, while extending the gains from the previous three market sessions.
The consumer goods company’s total market cap now stands at EUR 29.711 billion.
The shares of Henkel AG & Co have risen 24.11% so far this year, following a 12.60% loss in 2022.
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