5 June 2019
The Weekly

The traditional department store chain Galeria Kaufhof was acquired by Signa Holding in 2018. This year followed the merger with Karstadt under the common name Galeria Karstadt Kaufhof. Now the Signa Holding of the Austrian businessman René Benko became the sole owner of the department stores. The purchase price should be around one bn euros, as Signa had taken over the remaining shares of the department store group from the Canadian retailer Hudson's Bay Company (HBC). HBC was previously involved with 49.99 % of the shares. Signa will also take over all shares of the previously common real estate portfolio. Benko founded the Signa Group in 1999. With over 14 bn euros in property assets, the company is one of the largest real estate investors in Europe. Bento most recently took over the furniture chains Kika and Leiner and bought into two of the largest daily newspapers in Austria.