As of: April 1, 2024, 3:21 p.m
By: Nadja Hoffmann
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Insolvent since the end of January: the Oberpollinger in the pedestrian zone. © Peter Kneffel
After the bankruptcy is before the sale: There seems to be a future for the luxury department stores of the insolvent Signa Group. Accordingly, the Thai Central Group is planning a large-scale takeover.
He already owns more than half, and now the rest is apparently to follow: The Asian company Central Group is considering taking over the luxury department store chain KaDeWe - to which Oberpollinger also belongs. The Handelsblatt learned this from circles familiar with the events. Behind the group is the Thai billionaire Tos Chirathivat, whose family fortune is estimated at eleven billion euros. His Central Group already owns 50.1 percent of the shares in the bankrupt KaDeWe branch of the Signa Group, which also includes the department store of the same name in Berlin and the Alster department store in Hamburg. According to the Handesblatt, the Thai group is said to be the preferred partner of the insolvency administrator in the current negotiations. The first acquisition could be completed shortly. It's "more about weeks than months," the trade magazine quotes an insider. It is not clear whether this refers to the German luxury department store chain. At the same time, the Central Group is also said to want to take over the Signa shares in the Selfridges and Globus chains. An all-round blow, if you will. It has not yet been confirmed whether Tos Chirathivat also has an eye on the department store properties that belong to Signa Prime. According to various media reports, a real estate deal is also being examined.
Negotiations behind closed doors
That means: The poker for Oberpollinger continues for now. The game takes place behind the scenes: the Signa Group's insolvency proceedings are all non-public. It was only last week that it emerged that a purchase offer for 450 million euros was on the table.