KarstadtQuelle AG will acquire the German television and Internet retailer Home Shopping Europe GmbH & Co. from IAC/Interactive Corp. for $196 million in stock.
Under certain circumstances the stock received in the transaction could be worth $270 million within three years, the companies said.
HSE-Germany’s management team will remain in place, with Konrad Hilbers continuing as CEO.
The transaction is expected to close by the third quarter.
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