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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Arcandor AG (GM) | USOTC:ACAGF | OTCMarkets | Common Stock |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 0.002 | 0.002 | 0.002 | 0.00 | 01:00:00 |
From Jun 2019 to Jun 2024
The German economics minister isn't seeking a possible active mediation role in the negotiations between billionaire investor Nicolas Berggruen and Karstadt property owner Highstreet.
Economics Minister Rainer Bruederle talked to Berggruen last week but "an active mediator role hasn't been discussed between the two," ministry spokeswoman Beatrix Brodkorb told reporters. She added that Bruederle's fundamental position is that companies should solve their problems on their own.
She added that state aid won't be provided by the government.
Berggruen has asked Karstadt's insolvency administrator to extend the negotiation period with Highstreet, which underlines the ongoing difficulties in closing his deal to buy Karstadt. Berggruen recently signed a tentative agreement to acquire the iconic department store brand, but closing the deal hinges on reaching an agreement with its property owners, including the Highstreet real estate consortium led by Goldman Sachs Group Inc. (GS).
-By Andrea Thomas, Dow Jones Newswires; +49 30 2888 4126; andrea.thomas@dowjones.com
(William Launder in Frankfurt contributed to this report)
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