Central Group Eyes International Properties: KaDeWe, Selfridges & Lamarr Stores

For a long time, rumors have been circulating that the Thai retailer Central Group is expressing interest in acquiring properties from the insolvent Signa. Business Insider has reported that Central Group is eyeing iconic locations such as KaDeWe in Berlin and Selfridges in London. However, both Central Group and Signa’s restructuring administrator have not provided any comments on these speculations.

The Central Group is also said to be interested in the insolvent KaDeWe Group, which includes luxury department stores like the Alsterhaus in Hamburg and the Oberpollinger in Munich. The Thai company already holds a 50.1 percent stake in the group. Additionally, KaDeWe was set to operate the unfinished Lamarr department store in Vienna. Following the insolvency of Signa flagship Signa Prime Selection, there is uncertainty surrounding the completion of the Lamarr project due to inadequate financing.

The construction company Mariahilfer Straße 10-18 Immobilien GmbH, which filed for bankruptcy in early February, owns 50 percent of the shares in Lamarr. This company is equally owned by Signa Prime Capital Invest GmbH and Skyred Holding 9, a Luxembourg-based company. Signa Prime Capital Invest is a subsidiary of the insolvent Signa Prime Selection AG, while Skyred Holding 9 is an indirect subsidiary of the Thai Central Group. Amidst the insolvency proceedings, interest in acquiring these properties has increased both locally and internationally.[/Rewritten article:

Recent reports suggest that Thailand-based retail giant Central Group may be interested in purchasing properties from struggling European retail chain Signa. Sources within Central Group have confirmed to Business Insider that they are looking at iconic locations such as KaDeWe in Berlin and Selfridges in London as potential acquisitions. However, representatives from both companies have not commented on these rumors yet.

Central Group also holds a significant stake in Germany’s KaDeWe Group through its 50.1% ownership of this luxury department store chain which includes Alsterhaus and Oberpollinger stores located in Hamburg and Munich respectively.

Furthermore, KaDeWe was set to manage an unfinished Lamarr department store located in Vienna before it went bankrupt along with its parent company Signa Prime Selection AG.

Mariahilfer Straße 10-18 Immobilien GmbH owns half of Lamarr’s shares while being equally owned by two other entities – Signa Prime Capital Invest GmbH and Luxembourg-based Skyred Holding 9.

Signa Prime Capital Invest GmbH is a subsidiary of insolvent signa prime selection AG while skyred holding nine is an indirect subsidiary of thailand’s central group.

Interestingly enough, news sources suggest that many investors are showing interest