Pursuits
Goldman Sachs Group Selling 17 German Stores for $1.45 Billion
This article is for subscribers only.
Signa Holding, a property investor managed by Austrian Rene Benko, agreed to buy 17 German department stores, including the country’s largest, for 1.1 billion euros ($1.45 billion) from investors that include Goldman Sachs Group Inc.
The stores are leased to retailer Karstadt Warenhaus GmbH and the transaction will be completed next year, Richard Speich, a spokesman for the investment group called Highstreet that’s selling the stores, said today. The biggest of the 17 properties is the historic KaDeWe store in Berlin.