The acquisition of the KaDeWe building is the first important milestone for the company’s attempt to restructure it towards a sustainable business.
Thai retailer Central Group has acquired the landmark KaDeWe property in central Berlin from the insolvent Austrian company Signa as its another step towards buying the group.
Vittorio Radice, Board Member of Central Group Europe, said, “The acquisition of the KaDeWe building is the first important milestone for us in the attempt to restore and restructure the KaDeWe Group operating company towards a sustainable, financially viable business.”
According to Central, it was optimistic about talks to acquire the entire KaDeWe Group, which includes Alsterhaus in Hamburg, and Oberpollinger in Munich.
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