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Signa Holding to take control of Karstadt premium, sports units
Tuesday 17 September 2013

17 September 2013 – Austrian investor Rene Benko's Signa Holding announced it will acquire 75.1% stakes in both the Karstadt Premium Group and Karstadt Sports businesses based in Germany.

Signa said in a press release that a capital injection of EUR300m (USD401m) will be made to strengthen the companies and modernise the individual Karstadt department stores.

The transaction is pending clearance from the German competition authorities. According to Signa's managing director Christoph Stadlhuber, the acquisitions will establish the company as one of the leading players in inner city retailing in top locations in Germany.

Following its completion, investor Nicolas Berggruen's holding company will retain a 24.9% interest in both firms. Berggruen Holdings will also remain the sole owner of the entire core department stores business of Karstadt.

Karstadt Premium operates three luxury stores in Berlin, Hamburg and Munich, while Karstadt Sports has 28 specialised outlets in Germany.
Date Published: 17/09/2013
Target: Karstadt Sports, Karstadt Premium Group
Country: Germany
Sector: Leisure/Arts, Wholesale/Retail
Type: Corporate acquisition
Status: Agreed
Vendor: Berggruen Holdings, Nicolas Berggruen
Buyer: Rene Benko, Signa Holding
The parties will inject USD401m into the targets.