Rus News Journal

Co-owners the Alpha - groups try on German

Investment company Pamplona created by the co-owner of Alpha bank by Alexander Knasterom with the assistance of Michael Friedman, can get the network largest in Germany odezhnyh department stores Karstadt. Pamplona has entered into number of six investment companies which are ready to sanify gone bankrupt network. For co-owners the Alpha - groups supervising 5 Retail Group (networks Pjaterochka the Crossroads the Roundabout etc.) Department stores Karstadt can become the first shops abroad.
that investment company Pamplona of co-owner Altimo and Alexander Knastera`s Alpha bank is included into number of six applicants for re-structuring of debts of a German network from 120 department stores Karstadt (belongs to going bankrupt group Arcandor), Financial Times newspaper Deutschland yesterday has informed. Others interesanty - the American funds Apollo and Sun Capital Partners and the British private investment company Permira, writes the newspaper referring to the sources close to ritejleru. The company which will acquire the right to re-structuring of debts and business Karstadt, should enter into the capital of a network of department stores and at the first stage to close 13 inefficient objects. Within the next few days Karstadt will direct for acquaintance to minor court in Essen the sanitation plan.

the Partner of legal company Baker and McKenzie Max Gutbrod explains that under the German legislation within the limits of process of bankruptcy investors can enter into an authorised capital stock of the separate companies forming a network, but only with the consent of operating shareholders of a network. Bankruptcy process does not interfere with authorised capital stock increase, he explains. The plan of sanitation of business is offered by the specialised administrative adviser. After the court confirms the sanitation plan, the competitive managing director receives powers on its realisation under the private responsibility.

Thomas Schultz, the representative competitive operating Karstadt Klausa Huberta Gerga, has refused to confirm presence of the demand from Pamplona on sanitation Karstadt. In Alexander Knastera`s reception in London to the businessman have refused to connect, having referred that it is absent at office.

Pamplona it is based by Alexander Knasterom in 2005. The basic investors in the first fund which was created by the company then there were co-owners the Alpha - groups Michael Friedman, Herman Han, Alexey Kuzmichev. In 2007 the Alpha - groups has enclosed 1,24 mlrd in the second fund Pamplona. Today in a portfolio of funds of investment company the German supplier of cars TMD Friction, the equipment for modular ferro-concrete designs and industrial lines - Elematic Group, 18 % petroservice Abbot Group, the manufacturer of jewelry Amor. On February, 8th Pamplona has submitted the petition on purchase of the German manufacturer of paper production WEPA Industrieholding.

Interested the Russian businessmen Karstadt is one of leaders German ritejlerov - on a network share in 2008 38 % of sales of all department stores in Germany (in 2007 - 2008 financial year turn Karstadt - 4,1 billion) were necessary . But despite leadership, business Karstadt since 2004 was not steady: following the results of 2004 the company has shown a loss 1,6 mlrd, and in 2005 within the limits of re-structuring has dared at write-off of actives on 1,1 billion In last reporting Arcandor is said that in 2007 - 2008 financial year the network gain has decreased on 3,4 % to previous year, EBITDA became negative (falling on 152 million, to a minus 4,2 million), a loss has made 34 million Size of debts only Karstadt does not reveal. Potential investors the real estate ritejlera can interest, the director of agency Fasion &Consalting Group Anna Lebsak - Klejmans assumes. As she said, usually the share of own areas at networks of department stores reaches 80 - 90 %. The area of everyone Karstadt - 20 - 30 thousand in sq. m, that is all network can operate on the area to 3,6 million in sq. m.

Pamplona will to struggle for an active with large western funds. So, the portfolio of projects Permira is estimated in 22 mlrd, Apollo - $2,8 mlrd, Sun Capital - about $8 billion Only at Permira there is an experience in retail sphere - it posesses shares in a chain store system of clothes Cortefiel and networks of supermarkets Dinosol in Spain, and also in the Netherlands network Maxeda and British New Look. Earlier they posessed also a network of inexpensive clothes Takko in Germany. At Pamplona there is no experience of management by retail though its investors Michael Friedman, Herman Han and Alexey Kuzmichev are co-owners of retail company H5 Retail Group largest in Russia (a network Pjaterochka the Crossroads the Roundabout etc.). Alexander Knaster was included earlier into network board of directors the Crossroads .