Bild
Strategic Concepts & Mechanics
Primary Evidence
"2010 The Karstadt Warenhaus AG will be transferred to Nicolas Berggruen on October 1, 2010. The symbolic price is one euro. Berggruen pays five million euros for the naming rights to Karstadt. The rumor that he would demand up to 12 million euros annually for the license on Karstadt brand rights is vigorously denied by Nicolas Berggruen to Bild (from June 4, 2013): "I know the accusation — and it's absolutely false.""
""If Berggruen sees Karstadt as a long-term investment, as he claims, there is no operational reason for the leasehold easements," quotes the Frankfurter Allgemeine Zeitung (from 06 July 2010). What Schleyer now suspects has already been expressed by Maurizio Borletti to Bild (from 22 July 2010). The Italian department store owner is involved in the negotiations about Karstadt's rents as a Highstreet investor. "I believe Mr. Berggruen wants to break up Karstadt and sell it off in pieces." Berggruen wants to pocket the proceeds of up to 300 million euros for himself, which is why he also refuses to guarantee to keep the group together."