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Düsseldorf
Kaufhof-Mutter HBC: Fusion not permanently sealed
Düsseldorf. The merger of the two German giants of department stores, Kaufhof and Karstadt, has not yet been decided by Kaufhof's North American mother, HBC. There have been discussions with the real estate investor signa company and the owner of Karstadt, René Benko, confirmed the HBC Friday. HBC also signed a "non-binding agreement protocol" to "consider options for a joint venture". An agreement, however, was the subject of further review by HBC and other conditions.
The Canadian owner of the Hudson's Bay Kaufhof (HBC) and the Austrian owner of Karstadt Rene Benko were also under pressure from Amazon's online competitors in Zalando. After a long struggle for the key points of an agreed merger. Karstadt Sport and Kaufhof have to be reunited in a joint venture, several people have been told about the negotiations.
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