Wednesday, January 07, 2009

Banks rescue suicide billionaire's interests - Lesson: don't give up hope I guess.

Adolf Merckle, 74, was hit by a train in the southwestern town of Ulm Monday. Details of the incident were unclear, but Ulm police said Merckle was apparently dragged for some time after being struck, as they found blood some distance away from the body.

Merckle's family said that he had been "broken" by the global economic crisis.

But on Wednesday, Merckle's VEM Group said it had reached a rescue agreement with German banks. The business empire includes interests as diverse as cement-maker HeidelbergCement and generic drug-maker Ratiopharm. Under the agreement, VEM Group said, Ratiopharm will be sold.
Banks rescue suicide billionaire's interests -
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