Thai Signa partner Central Group has fully taken over the operational activities of Swiss department store chain Globus. To do this, she bought the remaining half of the shares of her financially troubled joint venture partner Signa. The future of Globus real estate is still open.
In concrete terms, the Central Group will take over the operation of the stores in the seven Globus department stores in Geneva, Lausanne, Bern, Lucerne, Zurich, Glatt and St. Gallen, as well as the two stores currently under construction at the Bellevue in Zurich and the shops in Basel. market square, that’s what it was called.
The real estate company Globus Switzerland is not part of the transaction. The ownership structure here remains unchanged, it was said. Central and Signa currently each own half of the shares, the Central Group announced on Monday.
“We are pleased to become full owners of this leading luxury retailer. This is another step in our efforts to consolidate our European portfolio and create more value for our stakeholders,” said André Maeder, CEO of Central Group Europe.
Also involved in the scale of the Lamarr
The Central Group also acquired the Berlin luxury department store KaDeWe from Signa Prime Selection in the summer. She is also involved in the shell construction of the luxury Lamarr department store on the Mariahilfer Straße shopping street in Vienna.
The bankrupt company Lamarr is each 50 percent owned by Signa Prime Capital Invest GmbH – a subsidiary of the also bankrupt Signa Prime Selection – and Skyred Holding 9, based in Luxembourg, a subsidiary of the Thai Central Group.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
