Sort has good cards in fusion poker

The takeover of the department store chain Galeria Kaufhof by competitor Karstadt is imminent. According to a report by the Süddeutsche Zeitung, the agreement is expected to enter into force by the end of July, but no later than four to six weeks. This would also affect the houses of the two department stores in Trier: Galeria Kaufhof has two branches in the pedestrian zone, Karstadt. What is special: in Simeonstraße, the houses of the two Noch-Gegenrahenten are located next to each other.

Kaufhof operates 96 national department stores, Karstadt 82. The owner of the Kaufhof, the Hudson's Bay Company and the Austrian owner of Karstadt. Benko had signed a letter of intent this week. According to the information provided by the trading circles, it plans to regroup Kaufhof, Karstadt and Karstadt Sport. The joint venture would also include HBC department stores in Belgium and the Netherlands.

Karstadt's owner, Benko, has been playing for years with the integration of his big competitor in his department store empire. But his attempts had failed in recent years again and again. In a merger, participants expect to be able to reduce the costs of administration and purchase. In addition, costly fights have been lost between Kaufhof and Karstadt.

One of the most exciting questions will probably be whether the 178 department stores will be retained after a merger. The reports that about fifteen houses should be on a strike list are false, reports the Süddeutsche in reference to the business community. In the end, three to five deficient homes could be closed. The concrete places have not yet been named. Insiders are unlikely to have any of the three houses in Trier affected by any closures. However, it is not excluded that one of the houses will focus later on the sport, according to a newspaper expert.

According to Verdi spokesman Dennis Dacke, department stores are mainly located in border and tourist areas. According to him, 206 employees work in the two department stores Trier Kaufhof, 131 employees in the branch of Karstadt (see Extra).

Employees must now clarify quickly so that the spiral of fear does not disappear, asks the trade unionist: "The employees need a clear vision and collective bargaining." According to the Süddeutsche Zeitung everything is possible regarding the future salary of employees, from the collective agreement of the company to the maintenance of the collective agreement. At present, Karstadt pays the employees at their own rate and therefore worse than Kaufhof. However, in Kaufhof, according to the Verdi trade union, management is pushing for massive wage cuts.

Karstadt was back in the dark for the first time in twelve years during the past fiscal year. The Signa holding of the Austrian investor René Benko bought Karstadt four years ago and used with Stephan Fanderl an experienced manager as the new CEO. The latest has announced to develop online business and to open new branches.

On Friday, for the first time the owner of Kaufhof HBC commented on possible cooperation with rival Karstadt. He was in talks, but a binding agreement for the sale or merger of European transactions has not been made, he said in a statement. And literally, "there is no guarantee that such negotiations will ultimately lead to a transaction."