The bankruptcy of the Signa Group has another facet: according to a report in the Financial Times, the now bankrupt Signa Development has transferred more than 300 million euros to two companies with close ties to Signa founder René Benko.
According to a report on Thursday, Signa Development lent 125 million euros to Laura Finance Holding GmbH and another 190 million euros to Laura Holding GmbH. The shareholder of Laura Holding is the Laura Private Foundation, named after René Benko’s daughter, with 42.1 percent. The donors here are René Benko and his mother Ingeborg.
In addition to the payments to the Laura companies, Signa Development has transferred hundreds of millions of euros to other companies in the Signa Group. According to the bankruptcy declaration of Signa Development, the administrator does not expect to get anything back, reports the Italian news agency ANSA.
The Signa Group, founded by Austrian René Benko, has entered a crisis after a strong growth phase due to rising interest rates, construction costs and energy prices. The group includes the Elbtower project in Hamburg and the department store group Galeria Karstadt Kaufhof. In Switzerland, the group has a 50 percent interest in the Globus department store group. (saw/sda/awp/apa)
Soource :Watson
I am Amelia James, a passionate journalist with a deep-rooted interest in current affairs. I have more than five years of experience in the media industry, working both as an author and editor for 24 Instant News. My main focus lies in international news, particularly regional conflicts and political issues around the world.
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