GERMANY ECONOMY KARSTADT KAUFHOF
epa07012360 People walk in front of a Kaufhof (L) and a Karstadt (R) branch in Duesseldorf, Germany, 11 September 2018. Reports on 11 September 2018 state the owners, Canadian Hudson's Bay Company (HBC) of department store chain Galeria Kaufhof and Austrian property and retail group Signa Holding that owns department store chain Karstadt have agreed on a merger between Karstadt and Kaufhof valued at some 1.1 billion euro. Signa is due to hold 50,01 per cent in the venture, while HBC takes the rest. The joint venture will have 32,000 employees. EPA/FRIEDEMANN VOGEL
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