Globus is fully acquired by the Central Group
Published: Monday, Sep 30th 2024, 11:20
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The Thai Central Group has taken over the entire operating business of the Globus department store chain. However, the future of the Globus properties is still open.
The sparrows were already whistling it from the rooftops: The Thai conglomerate Central Group has completely taken over Globus' department store business, as the Central Group announced on Monday. To do so, it bought the remaining half of the shares from its ailing joint venture partner Signa.
Specifically, Central will take over the operation of the stores in the seven Globus department stores in Geneva, Lausanne, Berne, Lucerne, Zurich, Glatt and St. Gallen, as well as in the two stores currently under construction at Zurich's Bellevue and Basel's Marktplatz, according to the statement. Globus Switzerland's real estate company is not part of the transaction. The ownership structure here remains unchanged, it said. Central and Signa each currently hold half of the shares here.
"We are delighted to become the full owner of this leading luxury retailer. This is a further step in our efforts to consolidate our European portfolio and create more value for our stakeholders," André Maeder, CEO of Central Group Europe, was quoted as saying in the press release.
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