Galeria Karstadt Kaufhof

NRDC Equity Partners and BB Kapital SA acquire Galeria Karstadt Kaufhof GmbH out of insolvency

Retrieved on: 
Wednesday, April 10, 2024
Accounting, Professional Services, Luxury, Department Stores, Commercial Building & Real Estate, Asset Management, Construction & Property, Fashion, Cosmetics, Retail, Legal, Finance, Home Goods, Negotiation, Coty, Procter, Investment, P&G, NRDC Equity Partners, Weil, Gotshal & Manges, Coty Inc., LVMH, Perfume, Acquisition, Christian Dior, BRL, Orientation, Galeria Karstadt Kaufhof, Knowledge, Procter & Gamble, NRDC, Security (finance)

NRDC Equity Partners, a New York-based investment firm, alongside investment firm BB Kapital SA, Bernd Beetz’s family office, have undertaken the acquisition of Galeria Karstadt Kaufhof GmbH (Galeria).

Key Points: 
  • NRDC Equity Partners, a New York-based investment firm, alongside investment firm BB Kapital SA, Bernd Beetz’s family office, have undertaken the acquisition of Galeria Karstadt Kaufhof GmbH (Galeria).
  • The consortium of NRDC Equity Partners and BB Kapital SA is pursuing the takeover and financing of Galeria as part of an insolvency plan.
  • Insolvency administrator Stefan Denkhaus says, “We have been negotiating intensively with two potential investors, and, together with the creditors' committee, we have selected two investment firms, BB Kapital SA and NRDC Equity Partners.
  • “Three months ago, we set in motion a plan to secure the future of Galeria Karstadt Kaufhof by filing for insolvency proceedings,” said Olivier van den Bossche, CEO of Galeria Karstadt Kaufhof GmbH.

EQS-News: DEMIRE achieves solid results in Q1 2023

Retrieved on: 
Thursday, May 11, 2023
CET, Tax, NAV, EBIT, Galeria Karstadt Kaufhof, Sale, LTV, FFO, Langen, EPRA, RTÉ Executive Board, ISIN, CFO, CIO, WALT, Lithium, EUR

2023 guidance confirmed with rental income between EUR 71.0 and EUR 73.0 million and FFO I (after tax, before minorities) between EUR 30.0 and EUR 32.0 million

Key Points: 
  • 2023 guidance confirmed with rental income between EUR 71.0 and EUR 73.0 million and FFO I (after tax, before minorities) between EUR 30.0 and EUR 32.0 million
    Langen, 11 May 2023: The results of DEMIRE Deutsche Mittelstand Real Estate AG (ISIN: DE000A0XFSF0) developed in line with management’s expectations in the first quarter of 2023.
  • Rental income increased by 7.4% to EUR 20.8 million (Q1 2022: EUR 19.3 million), mainly due to rent indexations.
  • Earnings before interest and taxes (EBIT) decreased to EUR -14.9 million (Q1 2022: EUR 13.1 million) over the same period.
  • Prof. Dr. Alexander Goepfert, CEO of DEMIRE, said: "DEMIRE is actively adapting to the impact of the new interest level and market conditions.

EQS-News: DIC Asset AG: Avoiding high-street retail vacancy in Leverkusen – DIC secures direct follow-on lease for former Kaufhof department store, preserving retail amenity for the long term

Retrieved on: 
Friday, March 31, 2023
Clothing, Negotiation, Frankfurt, City, ISIN, DIC, Galeria Karstadt Kaufhof, Warehouse, Lease, Galeria Kaufhof, Galeria

DIC Asset AG: Avoiding high-street retail vacancy in Leverkusen – DIC secures direct follow-on lease for former Kaufhof department store, preserving retail amenity for the long term

Key Points: 
  • DIC Asset AG: Avoiding high-street retail vacancy in Leverkusen – DIC secures direct follow-on lease for former Kaufhof department store, preserving retail amenity for the long term
    The issuer is solely responsible for the content of this announcement.
  • DIC Asset AG: Avoiding high-street retail vacancy in Leverkusen – DIC secures direct follow-on lease for former Kaufhof department store, preserving retail amenity for the long term
    Frankfurt am Main, 29 March 2023.
  • By negotiating this direct follow-on lease with a ten-year term, DIC successfully preserved the continued operation of this retail location in Leverkusen and with it the appeal of its inner city while also saving many jobs.
  • In conjunction with the department store chain’s insolvency proceedings, GALERIA Karstadt Kaufhof GmbH gave notice to terminate the lease as of 30 June 2023.