Connect with us
Finance Digest is a leading online platform for finance and business news, providing insights on banking, finance, technology, investing,trading, insurance, fintech, and more. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

NEWS

Thailand’s Central Group takes over Swiss department stores Globus

Published On :

 

BERLIN (Reuters) – Thai retail and property conglomerate Central Group said on Monday it will take over the operational business of Magazine zum Globus AG, which operates luxury department stores in Switzerland.

Globus is another piece of the fallen empire of Austrian property tycoon Rene Benko, whose sprawling Signa group folded late last year, sending shockwaves through a European property sector already beset with problems.

The business of all nine Globus stores in Switzerland will come under the sole ownership of Central Group, the company said in a statement, adding that the new ownership structure of Globus Switzerland’s property company would remain unchanged.

“We are pleased to become the full owner of this leading premium and luxury retail business, which marks a further step in our efforts to consolidate our European portfolio and deliver greater value for our stakeholders,” said Andre Maeder, CEO of Central Group Europe.

The deal will see Central Group take over all shares. It had previously held a stake in Globus together with Signa.

 

(Reporting by Matthias Inverardi; writing by Rachel More; editing by Matthias Williams)

 

Continue Reading

Why pay for news and opinions when you can get them for free?

       Subscribe for free now!


By submitting this form, you are consenting to receive marketing emails from: . You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact

Recent Posts