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- Caitlyn Terra
-
The case is round, at least, reports the Reuters news agency. Hudson Bay
Company and Signa Holding have signed an agreement for the merger
European department stores, "reports the German newspaper WirschaftsWoche
It is a joint venture with Galeria Kaufhof, which is part of
of the Hudson's Bay Company and Karstadt, which is part of Signa Holding.
That would mean that Signa would have half of the joint venture and the operational business
resume the activities of the department store. The end of June was already over
several media reports that both parties were talking about one
JV. Previously, HBC made an unsolicited bid of 3 billion euros
of Signa Holding for the Galeria Kaufhof chain
According to the Wall Street Journal, Hudson's Bay receives 1.1 billion euros
Signa and Signa also takes over 750 million euros in debt
business. Signa offered last year when offering them for the whole
Kaufhof chain, already at the totality of the German debt of Hudson's Bay
1.34 billion company to take over.
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