Thailand’s Central Group has entirely acquired Germany’s KaDeWe, a luxury department store group in Europe, according to several reports by local media outlets.
Central Group acquired the remaining 49.99% shareholding of KaDeWe from SIGNA Prime Selection AG, which is in self-administered insolvency, which sold its shares in the renowned luxury department store KaDeWe to the Thai Central Group as part of a share deal. The well-known building at Tauentzienstrasse 21-24 has been in the portfolio of SIGNA Prime Selection AG since 2013.
Following this acquisition, Central Group will operate three KaDeWe’s stores, consisting of KaDeWe in Berlin, Alsterhaus in Hamburg, and Oberpollinger in Munich, Germany, under the new company KaDeWe GmbH.
