Gerry Weber sells Halle 29 for 36 million euros

As a part of its turnaround strategy, Gerry Weber International AG signed an agreement to sell the showroom centre “Halle 29” in Düsseldorf to Bremen, a subsidiary of Zech Group for around 36 million euros. The company said that divestiture of the non-core property will result in extraordinary income of around 18 million euros in the financial year 2018/19, which will improve EBIT of the group by a corresponding amount.