Deals
Swiss Retail Chain Globus to Be Sold for About $1 Billion: SZ
- Thai and Austrian investors will each hold a 50% stake
- Sales decline as shops feel pressure from online retailers
This article is for subscribers only.
Swiss department store chain Globus is set to be sold to Austrian property mogul Rene Benko and Thailand’s Central Group, according to the Sonntagszeitung newspaper.
The retailer’s properties account for the majority of the assets, which are valued at an estimated 1 billion francs ($1 billion) and include a store on Zurich’s main street, Bahnhofstrasse, the paper said.