Signa’s Benko Hands Stake in Holding Company to Swiss Investor
Austrian billionaire René Benko has sold a stake in his Signa Holding GmbH to a Swiss investor, in a move that will help the real estate mogul to expand his business empire.
Background of Signa Holding GmbH
Signa Holding GmbH is a Vienna-based company founded by Benko in 2006. It is a holding company that owns and operates a variety of businesses, including real estate, retail, and media. The company has a portfolio of more than 200 properties in Austria, Germany, and Switzerland, and it also owns a number of retail stores, including the Austrian department store chain Karstadt.
Details of the Deal
The deal, which was announced on November 28, 2023, saw Benko sell a stake in Signa Holding GmbH to Swiss investor Thomas Schmidheiny. The size of the stake was not disclosed, but it is believed to be a significant portion of the company.
The deal will give Schmidheiny a seat on the board of Signa Holding GmbH, and he will also be given the opportunity to invest in the company’s various businesses.
Benefits of the Deal
The deal is expected to benefit both Benko and Schmidheiny. For Benko, it will provide him with additional capital to expand his business empire. He has already made a number of acquisitions in recent years, including the purchase of the Austrian department store chain Karstadt in 2020.
For Schmidheiny, the deal will give him access to a wide range of businesses and investments. He is already a major investor in the Swiss real estate market, and the deal will give him the opportunity to expand his portfolio.
Future Plans
Benko has said that he plans to use the proceeds from the sale to invest in new businesses and expand his existing ones. He has also said that he will continue to be involved in the management of Signa Holding GmbH, and that he will remain a major shareholder in the company.
The deal is expected to be finalized in the coming months, and it is likely to be the first of many investments that Benko and Schmidheiny make together.
Signa’s Expansion
The deal is the latest in a series of moves by Benko to expand his business empire. In recent years, he has made a number of acquisitions, including the purchase of the Austrian department store chain Karstadt in 2020.
He has also invested heavily in the Austrian real estate market, and he has plans to expand into other countries in the near future.
Conclusion
René Benko’s sale of a stake in Signa Holding GmbH to Swiss investor Thomas Schmidheiny is a major move for both parties. It will provide Benko with additional capital to expand his business empire, while giving Schmidheiny access to a wide range of businesses and investments. The deal is expected to be finalized in the coming months, and it is likely to be the first of many investments that Benko and Schmidheiny make together.