Metro confirms new potential buyer for Kaufhof

KaufhofMetro AG, Germany's largest retailer, has confirmed talks with Wolfgang Urban, ex-CEO of KarstadtQuelle, who wants to buy department store chain Kaufhof for a group of families from Düsseldorf. According to Bild am Sonntag, the group wants to buy a majority of 51%, but is prepared to buy 100% of the shares if necessary.

Three parties interested

Urban started his career at Kaufhof, but moved on to lead KarstadtQuelle – another interested party in the Kaufhof chain. Business newspaper Handelsblatt however reported that the bid by Karstadt's new owner Nicolas Berggruen has been rejected by Metro.

 

The status of the third proposal, that of Austrian Signa and the Greek billionaire George Economou, is unclear. Metro CEO Eckhard Cordes, who has been looking for years to sell Kaufhof, has recently stated he abandoned his hope to sell the chain before the year is over.

KaufhofMetro AG, Germany's largest retailer, has confirmed talks with Wolfgang Urban, ex-CEO of KarstadtQuelle, who wants to buy department store chain Kaufhof for a group of families from Düsseldorf. According to Bild am Sonntag, the group wants to buy a majority of 51%, but is prepared to buy 100% of the shares if necessary.

Three parties interested

Urban started his career at Kaufhof, but moved on to lead KarstadtQuelle – another interested party in the Kaufhof chain. Business newspaper Handelsblatt however reported that the bid by Karstadt's new owner Nicolas Berggruen has been rejected by Metro.

 

The status of the third proposal, that of Austrian Signa and the Greek billionaire George Economou, is unclear. Metro CEO Eckhard Cordes, who has been looking for years to sell Kaufhof, has recently stated he abandoned his hope to sell the chain before the year is over.

Questions or comments? Please feel free to contact the editors


Properly working Digital Single Market vital for retail and wholesale

26/05/2017

(content provided by EuroCommerce) EuroCommerce today partnered with the European Business Summit in a special session of the Summit on Tapping the Potential of the E-Commerce Market for Europe.

Amazon's New York book store generates little enthusiasm

26/05/2017

Online retailer Amazon’s first book store in New York did not only draw in positive feedback. It looks too much like a traditional book store.

Enormous profit drop for Marks & Spencer

24/05/2017

Despite a slight turnover increase, British Marks & Spencer’s pre-tax profit has more than halved. Clothing sales were a major factor, as they experienced a turnover drop.

Shoptalk Europe releases preliminary agenda & free ticket program

23/05/2017

(advertorial) Shoptalk Europe, a pan-European event for innovation in retail and ecommerce from 9 to 11 October in Copenhagen, has announced its agenda and a "Hosted retailers & brands program" offering a free ticket and up 650 in travel expenses.

Advocate General’s welcome confirmation of retail as a service

19/05/2017

(content provided by EuroCommerce) In the Visser case, the Advocate-General has stated that retail should be considered a service within the meaning of the Services Directive. EuroCommerce welcomes this confirmation of earlier jurisprudence.

Unilever’s sustainable approach is paying off

19/05/2017

Unilever’s sustainability plan has been the talking point within the company for quite some time, but it is paying off: its sustainable brands have contributed 60 % of the company’s turnover growth in 2016.

Back to top