August 14, 2014
Dauerbaustelle Karstadt: Now comes René Benko. Photo: AP
The Austrian real estate entrepreneur René Benko Karstadt buys for just one euro. The previous owner Nicolas Berggruen withdraws completely. The renovation projects are staggering.
Karstadt returns the owner: The previous owner of the renowned company, Nicolas Berggruen, the ailing department store chain extends to the Austrian property investor Rene Benko on. Already at the beginning of next week should the Austrians take control of the 83 branches, as Benko’s Signa Holding and the Berggruen Holdings announced on Friday. The remaining shares in the Karstadt department stores and premium KarstadtSports go to Signa. The purchase price is loud Berggruen Holdings one euro.
Berggruen, who in 2010 also acquired Karstadt for the symbolic price of one euro out of bankruptcy, will therefore withdraw completely from the company. The German-American financial investor emphasized that despite all efforts, it had not succeeded, to lead Karstadt after the takeover of the red. “We therefore make the way for a fresh start with a new owner.” Signa have been already invested around 200 million euros in Karstadt and thus made a clear commitment to the future of the company.
The managing director of Signa Retail GmbH, tungsten wedge, said given the recent commitment is the complete takeover of the Karstadt department store GmbH in the current situation the “logical consequence”. Signa assume therefore the operational responsibility and procure the Company clarity on the future ownership structure
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some semblance now, just rest
primary goal now that einkehre in the department store group rest and quickly advise the next steps of a viable recovery strategy would be adopted and implemented.
The Works also believes with the new owner René Benko to the survival of the department store chain with 17 000 employees. “Karstadt would have with an owner René Benko a future,” General Works chief Hellmut Patzelt said Friday the journal “Textile Industry”. The works have suggestions for the future strategy of the Group. Was open but how it will go with the redevelopment plans
Benko had the majority of the most lucrative parts of the company last year -. The sports stores and premium stores like the KaDeWe – secured. As part of the acquisition Berggruen also give its remaining minority interests in these sectors from, it said in the statement, as its investments in individual Karstadt real estate. The lossy department store group, however, face major renovation projects.
Karstadt is in crisis for a long time. The new boss Eva-Lotta Sjöstedt, which was considered great white hope had vacated early July after less than five months their place. You see no more basis for the target of a restructuring process, the Swede had explained.
Next week the Karstadt Supervisory originally wanted to discuss a new recovery plan of the words Group Leadership “no holds barred” should know more. (Dpa)
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