Thursday, August 14, 2014

Department stores Karstadt – exit from Berggruen is perfect – Süddeutsche.de

Department stores Karstadt – exit from Berggruen is perfect – Süddeutsche.de

By Kirsten Bialdiga and Ulrich Schäfer

Now it is nevertheless faster than thought: Already this Friday to the department store group Karstadt completely take over the Austrian investor Rene Benko. Nicolas Berggruen wants to get out – and end his hapless commitment.

The thing is apparently by Nicolas Berggruen, and Rene Benko will announce according to data from negotiating parties this Friday, the department store group Karstadt changes hands. Berggruen, the German-American investor and art collector, thus adopted after only four years – and Benko, the Austrian real estate entrepreneur, increases. The deal will be announced on Friday morning, learned the Süddeutsche Zeitung on Thursday evening by two people familiar with the matter. So it was agreed between the parties.

This is when it actually comes to the sale of department store chain thought even faster than on the stage. On Wednesday, Benko had the first time publicly expressed and declared, Berggruen had called him for help to do so. So it cited any case the Austrian magazine Format .



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poker for department store chain Berggruen wants out of Karstadt

The contracts are expected to be as good as done: The Tyrolean entrepreneur René Benko is on the verge of taking over Karstadt. Owner Nicolas Berggruen it’s all about one.

Benko had then leave, however, deny that he had said this. A takeover would not be imminent. Elsewhere it was said against it on Wednesday, even in August it could come to a deal. Obviously, it might now but go much faster – if not a he still backs down both sides at the last minute

Benko already among 75 percent of the shares in two divisions of Karstadt: the sports stores. and the premium segment to the luxury homes Oberpollinger (Munich), Alsterhaus (Hamburg) and KaDeWe (Berlin) count. 25 percent of these two divisions were Berggruen

Berggruen has high hopes disappointed

But will get completely Berggruen -., Not only in the sports and premium homes. He also sold the core business of Karstadt on Benko: The 83 classic department stores. The company so that changes within four years for the second time the owner.

Berggruen, son of the late art dealer and patron Heinz Berggruen was entered in the fall of 2010 at Karstadt. His entry was associated with high hopes – both among employees, as well as in politics. Federal Labour Minister Ursula von der Leyen said at the time of a “day of joy”.

Berggruen, however, has failed since then to invest in the business of Karstadt. He pointed out always, Karstadt must create the redevelopment of its business on its own. He shot himself to no money – even though he had his time Karstadt get for only one euro. Worse Berggruen pulled himself some money from Karstadt from, he owned the licensing rights to the name and was to pay this every year with millions

The 37-year-old Benko is considered smart and clever

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Benko rose last fall at Karstadt as a co-owner. The 37-year-old Tyrolean regarded as smart and clever, he has bought together a real estate empire in a short time. These now include a variety of homes in which Karstadt as a tenant does business. In Munich he took over only last year by the Bavarian State the Old Academy, a sprawling Immobile at Neuhauser Strasse, the most expensive shopping street in the city. He wants to convert to a fine shopping center.

Benko Signa Holding can count on the support of a network of business and politics. So the council of his Signa Holding include former Austrian Chancellor Alfred Gusenbauer and the Munich business consultant Roland Berger.

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