Gibson, Dunn & Crutcher LLP

BCBG Max Azria Group and Nicolas Berggruen were delighted to learn that they have been selected as the acquiror of the Karstadt department store chain. The announcement just came from the insolvency administrator, Klaus Hubert Görg, which followed their endorsement by the main union representing Karstadt’s employees. The positive decision by the committee of creditors is the reward for their joint efforts on behalf of the group and its future. Max Azria stated: “We have a fantastic opportunity to turn around this business and make it the jewel of the German retail market”. David Jehan, director of international operations for BCBG Max Azria Group, added: “We cannot wait to begin paving the new path we have dreamed of for Karstadt”. For any further information, contact: Stéphanie Azria at BCBGMAXAZRIAGROUP (Tel.: +33 1 53 00 75 86, E-Mail: sazria35@gmail.com)