Wednesday , January 20 2021

Workplace: Report: The Bundeskartellamt approves the merger between Karstadt and Kaufhof



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Neighbors in Dusseldorf: Karstadt and Kaufhof Neighbors in Dusseldorf: Karstadt and Kaufhof

Neighbors in Dusseldorf: Karstadt and Kaufhof

Source: dpa / dpa / image alliance

It seems that there are no conditions for the merger with the stores

DAccording to media reports, the Bundeskartellamt has no objections to the planned merger between Karstadt and Kaufhof. As the Frankfurter Allgemeine Zeitung reported on Thursday evening, quoting business circles, the authority wants to issue their release on Friday to fuse the two stores. There should be no editions. Contrary to expectations, according to "FAZ", the Cartel Office does not want to add a second in-depth review phase.

As the "FAZ" reported, connoisseurs expect a merger of companies later this month – and so in time for the Christmas business.

Karstadt and Kaufhof owners, Austrian Signa Holding and the Canadian HBC business group, announced on September 11 that they will unite the two stores. It is said that Karstadt Signa dam holds a 50.01% share in the new joint venture, HBC 49.99%.

On October 9, Signa and HBC announced the planned merger with the Federal Cartel Office. The agency had a month to examine it, but it could extend it for up to three months.

Signa chief René Benko said "Handelsblatt" that the merger was "saving the company" Kaufhof. The chain was "as alarming as Karstadt 2014". At that time Benko took Karstadt.

The Verdi union opposed the merger of the chain stores and appealed to the owners not to reduce their activity. There are fears that, during the merger at the Kaufhof 5000, about 20,000 jobs could disappear.


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