Thailand's largest retail conglomerate Central Group is to buy a majority stake in three luxury department stores in Germany from property firm Signa Group for an undisclosed sum as part of its expansion in Europe.

Central, controlled by the Chirathivats, Thailand's third-richest family, has been present in Europe since 2011 when it bought the upmarket Italian department store chain La Rinascente SpA for 205 million euros ($233 million).

The latest deal, Central's third in Europe, will strengthen its drive to be one of the global leaders in luxury shopping malls, Chief Executive Tos Chirathivat said on Tuesday.

"Central Group will continue to acquire additional department stores with strong potential in important European cities," Tos said in a statement.

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