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The Federal Competition Authority (BWB) approved the purchase of the Kika / Leiner furniture chain by the Signa Group of Tyrolean real estate investor René Benko. "The merger does not cause any competition issues," BWB boss Theodor Thanner said in a statement on Monday. Due to the urgency, the BWB had published the merger before the deadline.
Overall, the BWB boss positively evaluated the transaction from the competition point of view. It was thus prevented that Kika and Leiner disappear from the furniture retail business. Otherwise, the two major competitors, Lutz and Ikea, would have been left on the ground and the range of products for consumers has decreased.
Kika / Leiner: A traditional house in need
Overall, Signa had a purchase cost exceeding 600 million euros – including 490 million euros for real estate, a symbolic euro for the year. Activity in Austria and Eastern Europe and a restructuring contribution of more than 100 million euros. The approval of the guardians of the competition is the next step win, after a new commercial credit insurer for the sick Kika / Leiner homes had already been found with Euro Delkredere. The brutal exit of its predecessor Euler Hermes had triggered the Kika / Leiner crisis – and finally the emergency sale – at the beginning of the previous month
For more than 5000 employees in the 46 Kika / Leiner branches in Austria he remains after the exciting BWB decision. The new owner, Signa, as well as the management of the furniture chain, want to test all sites and structures
(APA / red.)
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