Toys ‘R’ Us Finds Buyers and Bidders

In Central Europe, Smyth Toys has acquired Toys ‘R’ Us’ operations in Germany, Austria and Switzerland for €80 million (on a cash-free and debt-free basis) and an estimated aggregate purchase price of €79 million.

Meanwhile, Isaac Larian, chief executive officer, MGA Entertainment, is ending his efforts to purchase the Canadian arm of Toys ‘R’ Us and is cushioning his formerly rejected bid for the toy retailer’s U.S. arm, according to

The

Los Angeles Times

.

According to the source, Larian is “satisfied” with the idea that 82 Canadian stores may be operated by Canadian investment firm Fairfax Holdings. Fairfax Holdings and Toys R’ Us

reached a tentative agreement to buy the stores for $237 million.

The bankrupt toy retailer rejected a bid from the toy billionaire for $215 million. Larian’s bid included $675 million to operate 200 U.S. locations, a point that was not included