Enough Euro Spin Offs To Make You Dizzy

Europe's giants are using them to raise cash and gain focus

With annual sales of $14 billion, German logistics supplier Stinnes is bigger than Lufthansa. But you can't buy Stinnes' stock. The company is a division of Dusseldorf-based conglomerate Veba, a corporate drop in the bucket of Veba's vast utility, oil, and chemical holdings. That's about to change. Later in 1999, Veba plans to list Stinnes on the Frankfurt exchange, raising an estimated $3.3 billion.

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