Metro sells its Galeria Kaufhof chain
Canada's oldest company, Hudson's Bay, has won the bidding war for German department store chain Galeria Kaufhof, parent company Metro AG said Monday.
The announcement came just hours after a late-Sunday meeting of Metro's supervisory board, which unanimously approved the sale. The deal will set back the Toronto-based buyer 2.8 billion euros.
The takeover marks the end of an era for the iconic Kaufhof, which was founded in 1879. When Hudson's Bay is handed the keys in September, it will be the first time in history that the future fate of the German company will be decided by foreign owners. (MTI)
Related news
Lunch is waiting on the shelf
A new generation of modern semi-prepared foods and ready meals…
Read more >Metro Italia Expands In Sardinia With Olbia Store Plans
Wholesaler Metro Italia has announced plans to open its third…
Read more >Related news
Auchan has appointed a new product director
From July 1, László Varga will perform the duties of…
Read more >Healthy summer nutrition tips with Eisberg
With the arrival of the really hot summer and the…
Read more >Tetra Pak has announced that Alex Henriksen will be the managing director of the Eastern European region
Tetra Pak, one of the world’s leading food processing and…
Read more >