Baywa sells its holding to RWA

The Munich-based outfit Baywa AG is selling its 51 per cent holding in the Italian company IFS GmbH to RWA Raiffeisen Ware Austria AG. The IFS headquarters, based in Bozen in South Tyrol, are the system headquarters of the garden centre distribution channels Gartenmarkt and Tutto Giardino. Baywa, which has a minority holding in RWA, has notified the Austrian Federal Competition Authority of its intention.