Friday, September 23, 2016

Where is Kaiser’s Tengelmann? – THE WORLD

Mülheim/Ruhr – In the dispute over Kaiser’s Tengelmann movement seems to come in the hardened fronts.

The heads of Tengelmann, Edeka and Rewe, have agreed under the mediation of the trade Union Verdi, to find a common solution for the ailing supermarket chain – also in the interest of the employees. Questions and answers about the future prospects of the company.

How was the initial situation before the Meeting?

the method Completely. First, the Federal cartel office stopped the takeover plans. Then the Federal Minister of Economics Sigmar Gabriel (SPD) made the way with a special permit, again free. Only to have the higher regional court of Düsseldorf slowed down, the continued, at the request of Rewe and Striking the Minister’s permission, provisionally, to be in force. A legal clarification of this confusion could otherwise take years. But as much time the Emperor has not’s Tengelmann. Because the company writes high losses.

What has changed as a result of the summit meeting?

talk chains The fractious trading finally restarted. Dominated so far, exchange assignments-side debt, so the retail giant want to try now, apparently, to find a compromise. The talks should be quickly resumed, with the stated goal, “to find for all parties Involved and the employees of Kaiser’s Tengelmann viable, common solution”.

Such an agreement might succeed?

The simplest solution would be that Rewe and Significantly withdraw their complaints against the Ministerial approval. Then, Edeka, Kaiser’s could take over Tengelmann, the retail giant with Verdi for this case, negotiated collective bargaining agreements would apply, and thus also long-term job guarantees for the workers.

What speaks against it?

Edeka is by far Germany’s largest food retailers and, in particular, Rewe don’t want to lose further ground. Exactly this would happen in the case of a Takeover of Kaiser’s Tengelmann, by the market leader.

This path is used?

Not necessarily. Edeka could try the disadvantages for Rewe and co. elsewhere to compensate. New, such an approach would not be. Also in the Ministerial approval for Ruhrgas acquisition by Eon shortly after the turn of the Millennium company had filed a complaint against the exemption. In the end it came to an out-of-court agreement. With two former Complainants Eon met the “agreements on a commercial Basis”. Essentially, it was the exchange of interests. With other complaint electricity have been leaders – and Gas supply, marketing, grants, or other money services are agreed upon. Overall, Eon had these benefits, around 90 million euros of costs.

there Are other solutions?

The retail giants could agree on a break-up of Kaiser’s Tengelmann. Rewe boss Alain Caparros pleaded last multiple times for a “fair distribution”. Then, however, other competitors would have to be brought on Board and also the Federal cartel office would have a say in this. The branches would then probably sold individually or in packages to the competitors. Transactions for which no interested party, would be shut down, as is likely, the meat works and the logistics of the group. Also, the management of the supermarket chain would no longer be needed. Thousands of jobs would be at risk in this case.

there Are still other interested parties for the stores?

Quite. A spokeswoman for the retail chain Teegut said the “business week” this week: “the Acquisition of Tengelmann stores in the Munich area is for Tegut an Option we would seriously consider.” Also the Discounter Norma interest in Tengelmann is, therefore, still locations.

decision of the düsseldorf higher regional court

notification of the Federal cartel office, the ban on the sale

Former Tengelmann communication to the company’s sale

Eon-communication on the out-of-court agreement


No comments:

Post a Comment