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April 2020

Galeries Lafayette and BHV Marais have joined the nationwide response to France’s unprecedented health crisis with a substantial donation to Assistance Publique-Hôpitaux de Paris (AP-HP), adding to the support already given to Bichat-Claude Bernard Hospital by Eataly Paris Marais, which Galeries Lafayette group has the exclusive franchise for in France.

redos Group has acquired a portfolio consisting of six retail properties from EDEKA Handelsgesellschaft Rhein-Ruhr mbH, which is part of EDEKA Group, one of Europe’s largest food retailers. All of the properties are located in the northwest German state of North Rhine-Westphalia and are earmarked for the Redos Einzelhandel Deutschland II institutional fund, managed in partnership with Union Investment.

The company received the approval of the German government for the participation of KfW, Germany’s state-owned development bank, in a syndicated revolving loan facility amounting to € 3.0 billion at customary market conditions to bridge this unprecedented situation.

“The lessor & lessee relation reflected in traditional lease models we are currently familiar with will transform into partnership models where risks and benefits will be shared.”

The Croatian Employers Association (HUP) has sent a proposal to the Finance Ministry to start taxing, in line with the relevant EU directive, cross-border online commerce and use the tax revenue to help the Croatian commercial sector, where, it says, more than 300,000 jobs are at risk directly or indirectly.

Ylva Sarby Westman is to be the new CFO of Kungsleden. Ylva will remain the Group’s Deputy CEO. At the same time, Kungsleden’s management team will be strengthened by the addition of Fredrik Sandell, the company’s current Treasurer.

Ingka Group has joined an alliance of 180 political decision-makers, business leaders, trade unions, NGOs, and think tanks for a renewed commitment by all stakeholders to address the social and economic consequences of the coronavirus outbreak, in addition to the long-term climate change initiatives.

“As far as offline is concerned, we can expect consumers to be increasingly sensitive to emotions versus price, quality versus quantity as well as health and proximity.”

“The only good news for stationary retail is that the “digital natives” (can) seize their opportunities only to a certain extent.”