SIGNA invests in German department store firm
Vienna-based SIGNA has taken a stake in the Karstadt department store business, with an investment of €300 million. SIGNA is Karstadt’s largest landlord, and is making a strategic investment in the company.
“This transaction marks the next milestone of SIGNA’s success story,” comments Christoph Stadlhuber, managing director, SIGNA. “The takeover of the Karstadt Premium and the Karstadt Sports businesses boosts SIGNA to one of the leading companies for inner-city retailing in top locations in Germany. The whole Karstadt Group will benefit from our investment, and the ongoing successful path [of the] ‘Karstadt 2015’ [plan] will be further fuelled and can be executed.”
SIGNA will take over a 75.1 percent stake in Karstadt Premium Group and a 75.1 percent interest in the Karstadt Sports business.