Danish electronics icon Bang & Olufsen (B&O) is in negotiations with the Sparkle Roll Group, a well-know supplier of high-end luxury goods.
The Hong Kong-based company has expressed interest in buying B & O. Sparkle Roll has expressed its intent in a letter that B & O has forwarded onto the stick exchange.
The notice states that Sparkle Roll is interested in buying all available B & O shares if they can be had for a ‘reasonable price’. Sparkle Roll already owns a small amount of B & O shares
The news is out
The Danish company announced several months ago that it was talking to potential buyers interested in buying all or part of the company. This is the first time that the name of a potential buyer has been revealed.
Sparkle Roll chairman Qi Jianhong said that his company has followed B & O since 2012 and are very excited about the company, its products and brand.
“We believe that Bang & Olufsen will benefit from new ownership to accelerate the company’s growth and consolidation,” he said in the letter. “As a result, we have investigated the possibility of making a bid for all shares in Bang & Olufsen.”
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Sparkle Roll already operates several B & O stores in China.
