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AUSTRIA: Apparel Firm C&A Sells Its Nine Store

AUSTRIA: Apparel Firm C&A Sells Its Nine Store

According to the managing director of Belgium based discount apparel retailer C&A’s real estate subsidiary Michael Wakolbinger, the company has sold its nine outlets in Austria for EUR30 million.

The sale, aided by real estate subsidiary Redevco Austria, was made to four separate investment groups.

Austrian real estate firm CA Immo AG bought the company’s Vienna outlet, which boasts a sales area of 6400 square metres.

Also, six C&A stores located in Amstetten, Bruck an der Mur, Villach, Steyr, Salzburg and Krems were collectively sold under sale-and-lease-back operations to two British private investment companies.

Finally, Austrian real estate group Wakolbinger took full control of two previously co-owned stores in Dornbirn and Wels.

Source: Agencies

January 30, 2004