financetom
Business
financetom
/
Business
/
Two bidders in talks to buy German retail giant Galeria
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Two bidders in talks to buy German retail giant Galeria
Mar 26, 2024 6:31 AM

DUESSELDORF (Reuters) - The insolvency manager of German department store giant Galeria Karstadt Kaufhof said on Tuesday it will hold talks with two bidders who want to buy the nation's most prominent retailer that filed for insolvency after the collapse of its parent Signa.

Galeria, currently under supervision of the insolvency manager, had been seeking a new owner after being hit by problems at Signa, the Austrian-based property empire that has become the biggest casualty so far in Europe's real-estate crisis.

The deadline for binding final bids for Galeria was over the weekend.

Four investors had placed offers for the chain, the insolvency manager, Stefan Denkhaus, told journalists.

He didn't name the bidders but said they had international financing and were interested in taking over more than 60 stores.

More than 90 stores are currently listed on its website.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Vanguard votes for Disney directors in boardroom battle, sources say
Vanguard votes for Disney directors in boardroom battle, sources say
Apr 2, 2024
NEW YORK, April 2 (Reuters) - Walt Disney's ( DIS ) largest investor Vanguard Group has voted to back all of the entertainment giant's 12 directors, helping the company pull ahead in its bitter board-room fight with two hedge funds, including Nelson Peltz's Trian Fund Management, sources said on Tuesday. ...
Market Chatter: Manchester United Cancels Corporate Credit Cards Amid Cost Review
Market Chatter: Manchester United Cancels Corporate Credit Cards Amid Cost Review
Apr 2, 2024
05:02 PM EDT, 04/02/2024 (MT Newswires) -- Manchester United ( MANU ) cancelled credit cards of some senior personnel under a cost review process, ESPN reported Tuesday, citing sources. The review was started by minority stake owner Jim Ratcliffe as the club attempts to comply with the Union of European Football Associations' profit and sustainability regulations, according to the report....
Aon Subsidiary Starts Cash Tender Offers for NFP's Debt Securities
Aon Subsidiary Starts Cash Tender Offers for NFP's Debt Securities
Apr 2, 2024
05:02 PM EDT, 04/02/2024 (MT Newswires) -- Aon (AON) said late on Tuesday that its wholly owned subsidiary, Randolph Acquisition, started cash tender offers for senior notes of varying maturities issued by NFP. Aon agreed on Dec. 20 to buy NFP, a property and casualty broker, for $13.4 billion in cash and stock. Aon said the tender offers are for...
Apparel retailer Express may file for bankruptcy as soon as next week, Bloomberg News reports
Apparel retailer Express may file for bankruptcy as soon as next week, Bloomberg News reports
Apr 2, 2024
April 2 (Reuters) - Apparel retailer Express may file for bankruptcy as soon as next week, Bloomberg News reported on Tuesday, citing people familiar with the matter. The company has asked its lenders for funds to help finance a potential Chapter 11 bankruptcy process, the report further said, adding that the preparations to file for bankruptcy are not final and...
Copyright 2023-2026 - www.financetom.com All Rights Reserved