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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 Jul 2019 to Jul 2024
Private investment fund Triton Friday said its bid for insolvent German retailer Karstadt would include a EUR100 million equity investment in the company at deal signing and more than EUR400 million in further investments over the next five years.
Triton is one of three bidders that placed offers for Karstadt ahead of a Friday bidding deadline mandated by its insolvency administrator, Klaus Hubert Goerg.
Triton's proposal further includes adjusting Karstadt property rents to "market rates," investing in core segments of the stores with more upside to be profitable and restructuring loss-making units.
Triton further wants to introduce performance-based pay elements for Karstadt's employees with the aim of "strengthening corporate culture."
The other bidders for Karstadt are Berggruen Holdings, another private investment fund, and the Highstreet real estate consortium led by Goldman Sachs Group Inc. (GS).
-By William Launder; Dow Jones Newswires; +49 69 29 725 515; william.launder@dowjones.com
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1 Month Arcandor (GM) Chart |
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