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The building that houses the KaDeWe, a high-end department store and Berlin tourist attraction, has been taken over by the Thai Central Group. The group is rumored to be interested in buying the retail business as well.
Thailand's Central Group has acquired the iconic ‘Kaufhaus des Westens’ (KaDeWe) building from the bankrupt Signa Group for a billion euros.
Berlin's renowned luxury department store KaDeWe has changed hands, now owned by the Thai Central Group.
Thailand's Central buys German luxury retail property
DUESSELDORF (Reuters) -Thai retailer Central Group has acquired the landmark KaDeWe property in central Berlin from the insolvent Austrian company Signa in what it said was another step towards buying the group. Central said in a statement on Friday that it was optimistic about talks to acquire the entire KaDeWe Group, which includes Alsterhaus in Hamburg, and Oberpollinger in Munich. "The acquisition of the KaDeWe building is the first important milestone for us in the attempt to restore and re