Globus co-owner Central Group reaffirms its commitment to Globus
Published: Wednesday, Nov 29th 2023, 17:50
Updated At: Wednesday, Nov 29th 2023, 17:51
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The Thai Central Group has reaffirmed its commitment to Globus. Alongside René Benko's now insolvent Signa, the group holds half of the shares in the Swiss luxury department store.
"Central Group remains firmly committed to securing and supporting its European luxury businesses regardless of the financial situation of its partners," the group told the news agency AWP on Wednesday evening.
Central Group's financial position is "solid" and the company benefits from broad access to financing to support the development of its own portfolio. "We are well positioned to manage the current situation and achieve the best possible outcome for all stakeholders," the Group said in the statement.
Earlier on Wednesday, Central Group emphasized that it will ensure that its businesses receive the necessary support to continue operations as usual. The Thai group also emphasized that it is a "long-term owner and investor in all its businesses".
This is the third verbal commitment to the Swiss department store made by the Central Group, which is backed by the wealthy Chirathivat family, in recent weeks.
Benko acquired Globus together with the Central Group from Migros in 2020. The deal included both the department store activities and eight Globus properties in prime locations.
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