According to a media report, real estate investor and co-owner of Globus René Benko, who is behind the ailing real estate group Signa, is looking for investors. They should be able to provide a capital injection of around 600 million euros this week, the Handelsblatt reported on Monday evening, citing financial circles.
Discussions are currently underway with investors who would be willing to pay the risk with high interest rates, the media report said. The loans must therefore be guaranteed with free assets of real estate subsidiary Signa Prime. Signa could not immediately be reached for comment.
The capital injection must cover, among other things, a bond loan of 200 million euros maturing at the end of November and ongoing costs. In total, around 1.5 billion euros will be due by the end of the first half of 2024. Actual restructuring should only begin once liquidity is found, the report said.
In order to survive, Signa Holding had to return to a healthy core, it was said. According to the report, Signa could break away from its trading subsidiary Signa Retail. A sales advisor for the trading activities has not yet been appointed, but discussions are already underway. (sda/awp/apa)
Soource :Watson
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