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Mülheim / Ruhr (dpa) - Three years after the disappearance of the billionaire Karl-Erivan Haub, the struggle for power in the Tengelmann retail group is about to come to an end. The quarreling family lines of Karl-Erivan Haub and Christian Haub had agreed in a memorandum of understanding that the heirs of Karl-Erivan Haub would transfer their shares in Tengelmann Warenhandels-KG to the brother of the missing person, the current CEO Christian Haub, The lawyers on both sides, Mark Binz and Peter Gauweiler, announced on Monday.
They did not provide any information about the purchase price.
However, according to his lawyer Mark Binz, Christian Haub had already submitted an offer of 1.1 billion euros for the company shares of his missing brother at the end of last year.
The auditing company KPMG had estimated the company value according to Binz at around 4 billion euros.
“It has been a long way that the families have had to travel since long-time CEO Karl-Erivan Haub went missing.
The Memorandum of Understanding signed today shows that
it is possible to come to an agreement even after lengthy disputes, provided that both sides have the will and the creative power to do so, ”said the lawyers' joint statement.
The aim is now to “notarize and execute the agreed share purchase in May”.
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Karl-Erivan Haub, one of the richest Germans, set out on a ski tour alone on April 7, 2018 and never returned.
The family assumes that he had a fatal accident on the Klein Matterhorn near Zermatt in Switzerland.
He could be declared dead in May after the Cologne District Court issued the so-called death declaration procedure in March.
After Karl-Erivan Haub's disappearance, his younger brother Christian took over the sole management of the Tengelmann Group. But since then a family dispute has simmered over the redistribution of power in the multi-billion dollar retail group, which includes the textile discounter Kik and the hardware store chain Obi. This was reflected, among other things, in disputes about the composition of the influential Tengelmann advisory board.
The dispute intensified when Christian Haub and the company applied in October last year to have the missing person declared dead.
Because this increased the pressure on Katrin Haub and her children to sell the shares of their family line.
After all, the children have to be prepared for inheritance tax payments in the hundreds of millions.
At the time, Katrin Haub sharply criticized Christian Haub's approach.
"It is very strange that someone else presumes that they want to make such decisions for our family," she told the German Press Agency via a spokesman.
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But afterwards there was apparently a rapprochement between the quarreling family lines.
Because in February Katrin Haub and her children surprisingly joined the applications for a declaration of death.
"We have had very tough negotiations," admitted the lawyers on Monday.
Katrin Haub as Karl-Erivan Haub's carer in absence and her children Viktoria and Erivan Haub had agreed to sell their shares in the end, it said.
So far, the family company has belonged to a good third to the missing Karl-Erivan Haub and the current boss Christian Haub.
The remaining shares belong to the third brother Georg Haub.
© dpa-infocom, dpa: 210426-99-360927 / 2