Tuesday , May 30 2023

Job: Report: The Bundeskartellamt confirms the merger of Karstadt and Kaufhof


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Neighboring in Düsseldorf: Karstadt and Kaufhof Neighboring in Düsseldorf: Karstadt and Kaufhof

Neighboring in Düsseldorf: Karstadt and Kaufhof

Source: dpa / dpa / picture-alliance

Obviously there are no conditions for merging supermarkets

DAccording to the media, the Bundeskartellamt has no objection to the planned merger of Karstadt and Kaufhof. As Frankfurter Allgemeine Zeitung announced on Thursday afternoon, referring to the business community, on Friday, the agency would like to grant an exemption to the merger of both supermarkets. There should be no expense. Contrary to expectations, according to the FAZ, the cartel office does not want to add another in-depth inspection phase.

As reported by FAZ, lovers will meet the merger this year – and hence the Christmas business.

Austrian Signa Holding and the owners of the Canadian trading group HBC, Karstadt and Kaufhof, announced on September 11 that they would unite both chains of department stores. It is alleged that the Karstadt Dam Signa owns 50.01 percent in the new joint venture, while HBC – 49.99 percent.

On October 9, Signa and HBC announced their planned merger with the Federal Cartel Office. The agency had one month to check it, but it could be extended to three months.

Signa boss René Benco "Handelsblatt" said that the merger is "salvage company" Kaufhof. The chains were "in a state of worry as the Karstadt of 2014". At that time Benko took over Karstadt.

The Verdi Union opposed the merger of the department stores and called on the owners not to reduce their jobs. It is feared that a total of around 20,000 jobs would be lost in the Kauffhof 5000.

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