In german : {http://bit.ly/1djY5Qi}
English trnaslation : {http://bit.ly/18qeTkA} (Google)
The Israeli diamond trader Beny Steinmetz is co-manager of the Karstadt Premium division, belong to the KaDeWe, Alsterhaus Oberpollinger. Even with the 28 Karstadt sports houses rises a stone. The former sole owner Nicolas Berggruen is amply rewarded.
Hamburg - As the manager magazine in its 22 November emerging issue reported Steinmetz takes each 37.55 percent of the premium and the sports company. The Austrian real estate developer René Benko announced in September to enter both companies with 75.1 per cent, each half of the shares he now extends to more stone. manager magazine appeals to a board template of Benko's Signa society.
In addition, signals and Steinmetz have loudly manager magazin the option to take over for a euro and 75.1 percent of the ailing company Karstadt tribe, which operates 83 conventional stores. If the partners exercise their option keeps the current sole owner Nicolas Berggruen in all three divisions Karstadt only 24.9 percent.
Unlike previously known, Berggruen is richly compensated by Signa and stone.As the manager magazine further writes, the German Americans receives a small capital contribution, a contribution of 24.9 percent to a sub company of signals and Steinmetz, of the 18 to the parent department stores are leased. In addition, Berggruen has an option to participate also with 24.9 percent of those three properties that are leased to the premium segment (KaDeWe, Alsterhaus Oberpollinger). He can participate in this way increases in value, the Signa has forecast for a total of 21 houses with half a billion euros. Benko and want Steinmetz within two years Karstadt invest in all three operating companies 300 million euros - because there is a considerable need for modernization among other things there. They get the money, however, by information from manager magazine about rent increases back. Thus, for seven houses - including three premium real estate - agreed rent increases, the mean for the operating companies overspending from 34.4 million euros a year.