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Hudson's Bay Co. T.HBC


Primary Symbol: HBAYF

Hudson's Bay Co, or HBC, is a Canadian retail business group. The company operates department stores throughout Canada, Belgium, Germany, and the United States under various banners. These banners include Saks Fifth Avenue, Hudson's Bay, Lord & Taylor, and Off 5th in North America and Galeria Kaufhof, Galeria Inno, and Sportarena in Europe. HBC also has investments in real estate joint ventures. In Canada, it has partnered with RioCan Real Estate Investment Trust in the RioCan-HBC joint venture.


OTCPK:HBAYF - Post by User

Post by talladega73on Jul 05, 2018 7:00am
136 Views
Post# 28270848

Reuters BS spreads like wildfire.

Reuters BS spreads like wildfire.Hudsons Bay to sell half its European business to Signa - report Prachi Singh | Thursday, 05 July 2018 Hudsons Bay Company (HBC) and Austrias Signa Holding have signed a deal that would see HBC selling around half of its European business to Signa. The development would bring two major German department store chains Kaufhof and Karstadt together, reports Reuters quoting German magazine WirtschaftsWoche. A proposed merger of equals for the European department store business was signed by both parties on July 3, the weekly reported. Reuters further added quoting the magazine that the deal would culminate into formation of a joint venture between Kaufhof, the German department store chain owned by Canada-based Hudsons Bay, and Karstadt, which is owned by Signa. Signa will hold over half of the stake in the JV and will manage the operating business, it added. In a separate article on the merger deal between HBC and Signa, the Wall Street Journal said Hudsons Bay would receive 1.1 billion euros (1.3 billion dollars) from Signa as part of the transaction, while Signa will assume 750 million in debt. HBC had earlier rejected Signas 3 billion euros (3.7 billion dollars) bid for Kaufhof earlier this year, finding it to be too low.
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