By  on June 7, 2010

BERLIN — The insolvent German Karstadt Department Store Group is to be acquired by a partnership between private investor Nicolas Berggruen and BCBG Max Azria Group.

On Monday evening — almost exactly a year to the day since the German retail chain filed for insolvency — the Karstadt creditors committee chose the Berggruen-led consortium as Karstadt’s new owner.

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