Thailand's Central Group acquires KaDeWe property in Berlin from insolvent Signa, aiming to buy the entire KaDeWe Group.
Thailand's Central Group has acquired the landmark KaDeWe property in Berlin from the insolvent Austrian company Signa, taking a step towards buying the group. Central Group, a multinational conglomerate with a sprawling retail and property portfolio, already holds a 50.1% stake in the KaDeWe Group. The company is optimistic about talks to acquire the entire KaDeWe Group, which includes Alsterhaus in Hamburg, and Oberpollinger in Munich. Central Group did not confirm the purchase price but German daily Handelsblatt reported it at around one billion euros.
April 12, 2024
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