KaDeWe has a new shareholder
What: Central Group now holds 49.9% of the KaDeWe shares. To date, KaDeWe was 100% owned by the Austrian real estate entrepreneur Rene Benko and his Signa Group.
Why it is important: Signa Group, already working with Central Group, also announced the closure of half of Galeria Karstadt Kaufhof locations. The two real estate groups operate department stores in Switzerland, Ireland and Great Britain.
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