Metro halts talks to sell Kaufhof
Metro Group has put an end to negotiations with potential buyers of its department store chain Galeria Kaufhof along with the Sportarena chain. Olaf Koch, the group’s chief executive, explained today that the situation on the financial markets does not create the appropriate environment for such a transaction. The preliminary figures for the fiscal year...
No decision on possible Kaufhof sale before next year
Eckard Cordes, the departing chief executive of the Metro Group, told Frankfurter Allgemeine, the German newspaper, that the race for the acquisition of Kaufhof is still open. There are bids on the table from Nicolas Berggruen, the owner of Karstadt, the other major department store chain in Germany, as well as from René Benko, an...
Join the discussion!