Clifford Chance advised subsidiaries of Thai Central Group, CRC Luxembourg S.à r.l. and the Italian company La Rinascente, on the acquisition of a 50,1% stake of KS Premium Holding GmbH. The seller is Signa Retail GmbH.

The transaction is subject to the approval from the antitrust authorities. The parties agreed not to disclose the purchase prize.

KS Premium Holding holds 100% of the stakes of The KaDeWe Group GmbH, who operates three German premium department stores: "KaDeWe" in Berlin, "Alsterhaus" in Hamburg and "Oberpollinger" in Munich. Signa Retail had acquired the three premium department stores in August 2014 in connection with the acquisition of the Karstadt Warenhaus GmbH of Berggruen Holdings.

The Clifford Chance team was led by partner Dr. Patrick Biagosch and comprised counsel Dr. Bernhard Magg, associate Timo Probst (all Corporate), partner Christian Trenkel, counsel Bettina Krause, senior associate Dorothea Schimmel and associate Agnieszka Pikul (all Real Estate), associate Mathias Klement (IP) – all Munich –, partner Dr. Joachim Schütze, senior associate Dr. Florian Wiesner (both Antitrust, Düsseldorf) as well as partner Dr. Stefan Simon and senior associate Susanne Julis (both Employment Law, Frankfurt).