To this end, Central Group bought the remaining half of the shares from its joint venture partner Signa. With the acquisition, the business of all nine Globus stores in Switzerland will be transferred to the sole ownership of the Central Group.
“We are pleased to become the full owner of this leading premium and luxury retail business, which marks a further step in our efforts to consolidate our European portfolio and deliver greater value for our stakeholders,” commented Andre Maeder, CEO of Central Group Europe.
While the operational business has been fully taken over, the future of the Globus properties is still open. For now, the ownership structure of the Globus properties in Switzerland is to remain unchanged, said the statement. Central Group and Signa each currently hold half of the shares.
