Clairfield advises GALERIA Karstadt Kaufhof and The Economic Stabilisation Fund (ESF) on the sale of Hood.de to The Platform Group
Galeria Karstadt Kaufhof and The Economic Stabilisation Fund (ESF) sold Hood Media GmbH, a virtual selling platform, to The Platform Group.
GALERIA Karstadt Kaufhof (GKK) is currently the second largest department store group in Europe with 92 locations and approximately 15,000 employees. In April 2020, the company filed for insolvency. Since then, it has received support from The Economic Stabilisation Fund (ESF) administered by the Federal Republic of Germany Finance Agency GmbH to address the economic and social impacts of the coronavirus pandemic on the German economy.
As part of the first financing measure granted to GKK by ESF in 2021, GKK pledged the shares of Hood Media GmbH (Hood.de) to ESF. In connection with GKK’s filing for insolvency for the second time in October 2022, GKK partly defaulted on the repayment. ESF and GKK then agreed to a structured M&A process to dispose of 100% of the shares in Hood.
Clairfield International’s Frankfurt office acted as exclusive financial advisor to GKK and the ESF.
Consumer & retail
Sale
Advisor to the seller
Services :
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