Thai retail and property conglomerate Central Group has announced the acquisition of the operational business of Magazine zum Globus, which operates luxury department stores in Switzerland. The business was acquired from Rene Benko’s insolvent Signa group, a Bloomberg report said.

Thai retail and property conglomerate Central Group said on Monday it will take over the operational business of Magazine zum Globus AG, which operates luxury department stores in Switzerland. Globus is another piece of the fallen empire of Austrian property tycoon Rene Benko,

The Thai Signa partner Central Group has completely taken over the operational business of the Swiss department store chain Globus. To this end, it

Central Group took control of Swiss luxury department store chain Globus from Rene Benko’s insolvent Signa group, the latest transfer from the Austrian financier’s retail unit to the Thai conglomerate.

Thai retail and property conglomerate Central Group said on Monday it will take full ownership of Magazine zum Globus AG, which operates luxury department stores in Switzerland. The business of all nine Globus stores in Switzerland will come under the sole ownership of Central Group,