Arcandor AG
KarstadtQuelle sells 75 department stores to British investors
Ad hoc announcement §15 WpHG
Progress in divestments
KarstadtQuelle sells 75 department stores to British investors
Ad hoc announcement transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
——————————————————————————
KarstadtQuelle sells 75 department stores to British investors
Essen, 3 August 2005. KarstadtQuelle AG, Europe’s leading department store and
mail order group has made a decisive breakthrough in implementing its
restructuring program, by successfully concluding key divestments faster than
expected.
The Group has agreed to sell 75 smaller department stores to British
investors. In future, in the context of focusing on its core operations,
KarstadtQuelle intends to concentrate on its 89 large department stores. The
75 smaller Karstadt department stores employing 4,900 people have retail areas
of less than 8,000 square meters and are mostly located in medium-sized
German cities.
The smaller Karstadt stores were bought by Dawnay, Day, a London-based
financial sponsor and retail company Hilco UK Ltd. (London).
With assets of EUR2.9 billion Dawnay, Day is one of the largest financial
investors, focussing on property. Hilco UK Ltd., a subsidiary of the US-group
Hilco, specialises in restructuring and repositioning retail companies.
KarstadtQuelle Group has also sold its Hagen-based speciality store chain
SinnLeffers AG. The buyers of the company and its real estate are Deutsche
Industrie-Holding (DIH/Frankfurt am Main), HMD Partners (USA) as well as
property investor Curzon Global Partners/IXIS AEW Europe (London).
The speciality store chain Runners Point (Essen) is a further divestment. The
new owner is the venture capital company HANNOVER Finanz Group (Hanover).
Since the beginning of the restructuring process, the number of KarstadtQuelle
Group employees has been reduced by approximately 25,000. More than two
thirds were transferred to new jobs.
Essen, 3.8.2005
The Management Board
KARSTADT QUELLE AG
Theodor-Althoff-Straße 2
45133 Essen
Deutschland
ISIN: DE0006275001 (MDAX)
WKN: 627500
Listed: Amtlicher Markt in Berlin-Bremen, Düsseldorf, Frankfurt (Prime
Standard), Hamburg, Hannover, München und Stuttgart
End of ad hoc announcement (c)DGAP 03.08.2005
031001 Aug 05
Aktuelle News
Aktuelle Berichte
Anstehende Events
Keine Events gefunden
Webcasts
Keine Webcasts gefunden