HBC, Signa sign German department store JV: Reuters
Hudson’s Bay Co has agreed to sell about half of its European business to Austria’s Signa Holding in a deal that will bring together two German department store chains, Reuters reported, citing media stories. A joint venture will be created consisting of Kaufhof, the German chain owned by Canada's Hudson’s Bay, and Karstadt, which is owned by Signa, one story said. The Wall Street Journal said Hudson’s Bay would receive 1.1 billion euros (US$1.3 billion) from Signa as part of the deal, while Signa will assume 750 million in debt.
4 July 2018•1 min read
