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Debenhams is to take over one of Denmark’s Magasin du Nord from the Magillum investor group for DKK 101 million with a 100 percent holding in A/S Wessel & Vett, Magasin du Nord, according to a news release from both parties.
The Magasin du Nord building on Kgs. Nytorv and the Illum department store are, however, not part of the takeover and will continue to be owned by Solstra Holding, which is run by the Icelandic investment bank Straumur and Alshair Fiyaz.
