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Wien/St.Pölten. (Dg) The purchase of the furniture chain Kika / Leiner by l 39; Signa real estate investor of real estate investor René Benko The Bundeswettbewerbsbehörde (BWB) announced this Monday, before the legal deadline, and BWB boss Theodor Thanner justified that "emergency" was the only way to save money. agenda, as well as Kika and Leiner disappears from the market.
"The merger does not raise competition concerns," said Thanner, adding that the Signa group has invested about 600 million euros in the transaction, 490 million euros for real estate and 100 million euros for the restructuring plan Signa becomes the sole owner of the furniture chain
The sales contracts have been signed in mid-June and the former mother of Kika / Leiner, Steinhoff, is in efen crisis. xercices 2015 and 2016 of the second largest furniture retailer in the world could have been counterfeit. Following the announcement of irregularities, the Steinhoff action has collapsed mbadively. The crisis had also seized the girls of the Austrians, Kika and Leiner.
Benko had already acquired last year the site of Leiner on Mariahilfer Strbade in Vienna, selling between 50 and 70 million euros. With the acquisition of the entire trade chain, Signa is now the second largest furniture retailer in Austria and controls one fifth of the market. In first place is the XXXLutz group with 28.9% market share, in third place Ikea with 15.5%. Rene Benko is also involved in the transaction
The Signa group owns the real estate division Signa Real Estate, which holds many properties in prime locations. And Signa Retail, which includes German retailers Karstadt and KaDeWe in addition to Kika / Leiner. Signa Retail employs around 25,000 people with its most recent takeover.
"This transaction allows Signa to pursue the traditional Kika / Leiner company and provides for an Austrian solution," the press release said. What exactly does this mean for the continued existence of the 68 branches was not available on request from the "Wiener Zeitung". According to reports, a reorganization plan needs to be developed by the end of July.
The reorganizers are the president of Signa Retail, Dieter Berninghaus, formerly of Rewe, and the Karstad CEO, Stephan Fenderl. What does a restructuring plan look like in Signa's recent story. Since 2012, the group has acquired the German chain Karstadt and the department store KaDeWe in several stages. When taking control, the Karstadt group was very deficient.
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