Steinhoff sells kika/Leiner to SIGNA Group

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The SIGNA Group has submitted a purchase offer for the furniture chain kika/Leiner to the Steinhoff Group. This bid includes both the operational commercial business, with its some 5,500 employees, as well as the approximately 70 real estate locations in Austria and CEE, and means an Austrian solution for the company. Steinhoff has accepted the offer from the SIGNA Group.

“The company has great intrinsic value. After carrying out a careful analysis, we are absolutely certain that the company can be put back on its feet and be successful once again. Our focus is set on creating a sustained and financially secure perspective for this Austrian company with its rich tradition and its dedicated staff”, says Dr. Stephan Fanderl, Managing Director of SIGNA Retail.

The takeover is subject to a confirmatory due diligence (operative company by 19 June 2018; real estate properties by the end of July 2018), agreement on the final transaction documentation), and approval by the cartel authorities.

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