Compared to US companies the conditions are favorable, the investor said at the meeting of his investment firm Berkshire Hathaway in Omaha in Nebraska this weekend.
“We have a long European time acquisitions struggled, “added Buffett Vice Charlie Munger at the 50th anniversary of the traditional shareholders meeting in Buffett’s hometown. But Germany’s companies are traditionally strong, when it came to technology and engineering.
In February Berkshire Hathaway had already taken the Hamburg firm Louis, a dealer for motorcycle accessories. “We have Germany now much more on the radar as they did a few years,” Buffett said.
because of her flair for lucrative investment opportunities, the “Oracle of Omaha” called investors legend also holds long been a large block of shares in the German reinsurer Munich Re.
On Friday Buffett had already spoiled his followers with strong financial results. In the first quarter, Berkshire Hathaway earned $ 5.16 billion bottom line. These were ten percent more than the same period last year. Sales rose by seven per cent to $ 48.64 billion.
Berkshire Hathaway holds a portfolio of more than 80 subsidiaries and stakes in large corporations such as Coca-Cola, IBM and Munich Re. In March Buffett had arranged together with the Brazilian private equity firm 3G the merger of US food giant Heinz ketchup and Kraft Foods.
The figures were presented at the start of a big party to celebrate the 50th annual shareholder meeting in Buffett’s hometown Omaha in Nebraska.
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