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Central Group Want To Acquire Signa’s Retail Assets

  • By The Swiss Times
  • 1 April 2024

Central Group’s ambitious bid to take over Signa’s coveted retail assets, including the iconic KaDeWe and Selfridges.

Central Group Want To Acquire Signa’s Retail Assets
Keystone/UNBEKANNT

Central Group, a leading Thai retailer, is targeting a significant expansion into European retail by proposing to acquire prime real estate assets from the now-defunct Austrian property company Signa. That is according to claims from Reuters.

This bold move could reshape luxury retail, bringing KaDeWe from Germany and Selfridges from London under Central Group’s umbrella.

Central Group’s interest does not stop at prime assets; it extends to Signa’s luxury division, encompassing other high-end retail jewels like Alsterhaus in Hamburg, or Globus in Switzerland.

This acquisition underscores Central Group’s commitment to investing in and revitalising Signa’s luxury holdings, of which it is already a significant stakeholder.

The dynamics of this acquisition are complex. Signa, founded by Rene Benko, has grappled with insolvency amidst a sea of creditor claims amounting to billions of euros.

The potential consolidation of these luxury assets under Central Group could herald a new chapter of resilience and growth for these storied retail brands.

As the retail and real estate sectors watch closely, the unfolding of this acquisition will be pivotal in determining the future trajectory of Europe’s luxury retail market.

Integrating these assets into Central Group’s portfolio could not only diversify its holdings but also strengthen its position as a global luxury retail powerhouse.

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