Friday, November 09, 2018
Karstadt is considered to be the last survivor of the Kaufhof contestant. The combination of two German defenders of the department store was still controversial. Now it seems scattered.
Bundeskartellamt does not comment on the planned merger of Karstad and Kaufhof. As reported by Frankfurter Allgemeine Zeitung, referring to business circles, the body wants to approve on Friday the release of the two stores. There should not be editions. Unlike expectations, according to "FAZ", the Office Cartel does not want to add another, detailed phase of testing.
As described further in the "FAZ", scholars expect to join companies later this month – and so on time for Christmas business.
The owners of Karstadt and Kaufhof, Austrian Signa Holding and the Canadian HBC trading group, announced on September 11 that they will merge two chains of department stores. Karstadt Dam Signa said it holds a 50.01 percent share in the new joint venture, HBC 49.99 percent.
On October 9 Signa and HBC announced the planned merger with the Federal Cartographic Office. The agency had a month to review it, but it could extend it for up to three months. Signa Boss René Benko told "Handelsblatt" that the merger of "rescue company" Kaufhof. The chain was "as alert as 2014 Karstadt". By that time Benko took over Karstad.
The Green Union was opposed to joining the chains of department stores and invited the owners not to take down the job. There are fears that 5,000 of the 20,000 jobs could be lost during Kaufhof's merger.