United Arab Emirates-based industrial and property group MAG said on Sunday it was in "initial" talks with Continental AG to buy a factory in France but it was too early to talk about striking a deal.
"The MAG Group confirms that it is currently in contact with official authorities in France and with Continental regarding the possible sale of the plant in Clairoix," MAG said in a statement.
"Discussions are in the initial phase ... further meetings and in-depth studies should be conducted on the industrial, economic and financial plans to enable MAG Group to bring together the different elements to take a position on this opportunity," said MAG, which is headquartered in the emirate of Sharjah.
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