DUESSELDORF (Reuters) -Thai retailer Central Group has acquired the landmark KaDeWe property in central Berlin from the insolvent Austrian company Signa in what it said was another step towards buying the group. Central said in a statement on Friday that it was optimistic about talks to acquire the entire KaDeWe Group, which includes Alsterhaus in Hamburg, and Oberpollinger in Munich. "The acquisition of the KaDeWe building is the first important milestone for us in the attempt to restore and re
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Thailand's Central Group said Friday it has bought the iconic KaDeWe department store in Berlin from insolvent Austrian real-estate giant Signa."We are pleased to add KaDeWe Berlin to Central Group's historic flagship luxury store real estate portfolio," said Central Group's chief executive, Tos Chirathivat.
The major Thai developer, Central Group, has taken over the property that is home to Berlin's iconic KaDeWe department store following an agreement with the previous, insolvent owner Signa Prime Selection, Central said on Friday. The Thai group is also considered to be among the leading candidates bidding to fully take over the whole KaDeWe Group, including the retail business itself, according to trade experts. Central currently holds a 50.1% stake in the group, while 49.9% belong to the Signa
DUESSELDORF - Thai retailer Central Group has acquired the landmark KaDeWe property in central Berlin from the insolvent Austrian company Signa in what it said was another step towards buying the group. Read more at straitstimes.com.