Austria's Signa pays $397.8 million for Karstadt stake

09/16/2013 | Women's Wear Daily (subscription required)

Austrian real estate firm The Signa Group has acquired a majority stake in Karstadt's 28 sporting goods stores and its three German luxury department stores, KaDeWe in Berlin, Alsterhaus in Hamburg and Oberpollinger in Munich. Karstadt owner Nicolas Berggruen retains a 24.9% stake in the properties as well as 100% ownership of Karstadt's 83 namesake department stores across Germany.

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