Hudson's Bay buys Germany's Kaufhof chain for $3.2 bln: Reuters

Hudson's Bay Co is buying Germany's leading department store chain, Kaufhof, from Metro for US$3.2 billion, giving the Saks owner a launch pad to expand into Europe, Reuters reported. Hudson's Bay, which is chaired by NRDC Equity Partners Chief Executive Richard Baker, sees the Kaufhof deal, due to close at the end of September, as the next step in its plan to become a "premier global retailer".

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