Highstreet Holding
Strategic Concepts & Mechanics
Primary Evidence
"the Italian department store king Maurizio Borletti. Surprisingly, on August 1, he makes an offer for the takeover of Karstadt. It's no secret who is supporting him: Deutsche Bank, also a stakeholder in Highstreet Holding. Though Borletti's empire with the Italian department store chain Rinasscente and the French budget department store brand Printemps has also been shaken, he can rely on the US investor Gordon Brothers for his bid for Karstadt."
"The KaDeWe in Berlin is getting a new owner just before Christmas. The Austrian real estate investor René Benko pays a total of more than 1.1 billion euros for the luxury department store and 16 other department stores rented to Karstadt. According to media reports, Benko's company Signa is paying 500 million euros for the KaDeWe alone. The seller is the landlord consortium Highstreet Holding in London. Nicolas Berggruen, the owner of Karstadt, will continue to operate the KaDeWe, but he now has to negotiate a new rent with the new owner."