Migros-Genossenschafts-Bund (MGB) sold Magazine zum Globus AG along with eight associated real estate properties to a joint venture of SIGNA and CENTRAL Group. SIGNA and CENTRAL jointly own Germany’s KaDeWe Group and CENTRAL Group currently owns Italy’s Rinascente and Denmark’s Illum, all leading luxury department stores in Europe. The transaction is subject to approval by the competent merger control authorities.
Bär & Karrer acted as legal advisor to MGB in this transaction. The team included Christoph Neeracher, Thomas Rhode, Raphael Annasohn, Raphael Egger, Yves Suter, Isabelle Stalder and Sandro Orefice (all M&A), Corrado Rampini and Charles Gschwind (both Real Estate), Markus Wang (IP/IT), Christoph Suter (Tax), Mani Reinert (Competition) as well as Ralph Malacrida and Faton Aliu (both Financing). Wenger & Vieli acted as legal advisor to both buyers in this transaction.