2023-08-23 08:15:06
Düsseldorf Others get into trouble, René Benko has friends. The 46-year-old Austrian real estate entrepreneur and billionaire, whose empire includes the ailing Galeria Karstadt Kaufhof, the prestigious Elbtower project in Hamburg and parts of the Chrysler Building in New York, is well connected. While the real estate sector, especially commercial real estate, is groaning under the break from the zero interest rate policy and has to put up with falling prices, Benkos Signa Holding recently made a remarkable deal: A 400 million euro cash injection that will give the company some breathing space.
But Benko didn’t have to go to a bank for the money. The interesting thing about the deal is the sponsors: Fressnapf founder Torsten Toeller, the Austrian contractor Hans Peter Haselsteiner, the Brazilian entrepreneurial family Koranyi-Arduini and René Benko himself are among them, according to business circles.
The group of investors is among the existing investors. Despite the difficult market environment and recent high losses at the Signa subsidiary Prime, it seems as if the confidence of this group of investors in Benko’s business model is unbroken. But what is more important – trust in the business or trust in the person?
“René Benko is a man who knows how to inspire people with his ideas,” says Florian Kolf, team leader for retail, consumer goods, fashion and luxury at Handelsblatt. In the current episode of Handelsblatt Deals, you can find out what path Benko has taken, what the current 400 million deal and Benko’s network are all about, and how the Signa Group will continue.
Transparency note: Like Signa Holding, the Handelsblatt Media Group is involved in the digital education platform Ada from Galeria owner René Benko.
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