(MENAFN) German retailer Detlev Louis Motorrad-Vertriebs approved to be acquired by Warren Buffett, who is getting into motorcycle gear in a rare investment, AFP reported.
The sole heir and widow of company founder Detlev Louis sold all the shares to Buffet's Berkshire Hathaway after the seller approached the US firm, the law firm said.
The deal is estimated to worth USD456 million. Detlev Louis sells helmets, motorbike clothing and accessories in more than 70 stores in Germany and Austria.
Investment guru Buffett, the world's second-richest man, already had hinted that he had eyes on Europe. "We're probably going to buy a small business in Europe. But I'd love to buy big ones," he said.
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