|
Italy's Gruppo Coin buys
Kaufhalle Gruppo Coin, the leading Italian non-food retailer, buys Germany's Kaufhalle. This chain of inner city department and variety stores was moved by its owner Metro AG to a specially created investment company Divaco some years ago. The deal includes 99 stores, two distribution centers and Kaufhalle's head offices. Metro operates a chain of large Kaufhof department stores. The Kaufhalle stores will be converted to Oviesse stores, Gruppo Coin says in its press statement. A subsidiary has already been established in Germany, Oviesse Gmbh. The transition of ownership will take place on 1 January next year. In Italy, Gruppo Coin operates under the names of Coin, Oviesse, Bimbus, Kid's Planet and La Standa. It also runs the Italian Fnac stores, in a joint venture with French multinational Pinault-Printemps-Redoute. In Italy, it employs close to 10,000 workers. Kaufhof will add another 6,000 in Germany. Uni Commerce will discuss the trade union follow up with its German and Italian affiliates, HBV, DAG, FILCAMS, FISASCAT and UILTUCS and will consult also with the French unions concerned. The company will come under obligation to install a European Works Council. |
