Sunday , June 13 2021

The Office Poster gives the green light: Karstadt and Kaufhof can be merged



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The old competitors in downtown Düsseldorf.

The old competitors in downtown Düsseldorf.(Photo: imago / Marianne Müller)

Friday, November 9, 2018

Karstadt is considered the last rescue of the competitor Kaufhof. The amalgam of the two veterans of German department stores were still anti-competitive. Now they seem scattered.

The Bundeskartellamt does not submit objections to the planned merger of Karstadt and Kaufhof. As reported by the "Frankfurter Allgemeine Zeitung", citing commercial circles, the authority wants to grant its launch on Friday for the merger of the two large warehouses. There should not be edits. Contrary to expectations, according to the "FAZ", the Poster Office does not want to add a second phase of in-depth examination.

As the "FAZ" informed, the connoisseurs expect a merger of companies later this month and, therefore, in time for the Christmas business.

The owners of Karstadt and Kaufhof, the Australian Signa Holding and the Canadian commercial group HBC, announced on September 11 that they would merge the two chains of department stores. The Karstadt Signa dam has a 50.01 percent share in the new mixed company, HBC 49.99 percent.

On October 9, Signa and HBC announced the planned merger with the Federal Poster Office. The agency had a month to examine it but could extend it for up to three months. The head of Signa, René Benko, told the "Handelsblatt" that the merger was "the rescue of the company" Kaufhof. The chain was "in such an alarming situation as 2014 Karstadt". Then Benko will take Karstadt.

The Verdi union was opposed to the merger of the chains of department stores and appealed to the owners not to cut jobs. There are fears that during the merger in Kaufhof 5000 of about 20,000 jobs could disappear.

Source: n-tv.de

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