March 30, 2017 6:17 AM ET

Multiline Retail

Company Overview of Galeria Kaufhof Gmbh

Company Overview

Galeria Kaufhof Gmbh owns and operates department stores in Germany and Belgium. It offers fashion and lifestyle products. The company was founded in 1879 and is based in Cologne, Germany. Galeria Kaufhof Gmbh operates as a subsidiary of GALERIA Holding GmbH.

Leonhard-Tietz-Straße 1

Cologne,  50676

Germany

Founded in 1879

Phone:

49 2 21 2 230

Fax:

49 2 21 2 23 28 00

Key Executives for Galeria Kaufhof Gmbh

Chief Real Estate Officer
Compensation as of Fiscal Year 2016.

Galeria Kaufhof Gmbh Key Developments

HBC Reportedly In Talks To Acquire Galeria Kaufhof

The Globe and Mail reports that unnamed sources says Hudson's Bay Company (TSX:HBC) is planning to acquire Galeria Kaufhof Gmbh for CAD 3.9 billion. The Globe's Marina Strauss writes that HBC, which has been in talks for weeks with METRO AG (DB:MEO), the parent of Kaufhof, is expected to announce the purchase as early as June 22, 2015. Richard Baker, Chairman of HBC is believed to be attracted to the value of Kaufhof's 135 stores, which are housed in key real estate properties in Germany and Belgium. Baker has said that he is looking for international expansion opportunities.

Hudson's Bay Reportedly Makes Offer For Kaufhof

Hudson's Bay Company (TSX:HBC) has made an indicative offer to acquire Kaufhof Warenhaus AG from METRO AG (DB:MEO), two people familiar with the matter said. The non-binding offer is similar to a separate bid made by Rene Benko, owner of Galeria Kaufhof Gmbh, source stated. Rene Benko had reportedly offered €2.9 billion ($3.18 billion) for Kaufhof.

Hudson's Bay To Decide To Bid For Kaufhof

Hudson's Bay Company (TSX:HBC) is expected to decide by the beginning of next month whether it will join the bidding race for Galeria Kaufhof Gmbh, as per reports. The Canadian company is expected to submit a bid in the next few weeks, according to separate reports. A deal may be struck if METRO AG (DB:MEO) is offered a suitable price and the bidder presents the right strategy for Kaufhof's future.

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Recent Private Companies Transactions

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