Central Group takes over Swiss department store operator Globus

It will now fully own all nine Globus stores in Switzerland.

Thailand’s Central Group has announced that it will assume full control the operational business of Magazine zum Globus AG, which operates luxury department stores in Switzerland, Reuters reported.

This move follows the collapse of Austrian property tycoon Rene Benko's Signa group late last year.

Central Group will now fully own all nine Globus stores in Switzerland, whilst the ownership structure of Globus Switzerland's property company will remain unchanged.

Central Group had previously held a stake in Globus alongside Signa.