The Business Times

Signa Holdings

Property

Kuehne owner sees triple-digit million hit on Signa investment

(FILES) The KaDeWe Kaufhaus des Westens (Department Store of the West) department store is pictured in Berlin, Germany on February 9, 2024. Thailand's Central Group became the owner of the iconic Berlin department store Kadewe on April 12, 2024, following its purchase from Austrian real estate giant Signa, which resoundingly filed for bankruptcy last year. The company announced that it had "concluded an agreement to acquire 100%" of this shopping center located in the heart of the German capital and considered one of the largest and most luxurious in Europe. (Photo by STEFANIE LOOS / AFP)
Property

Thai group buys iconic Berlin department store

People enter the department store Kaufhaus des Westens "KaDeWe" in Berlin, Germany January 29, 2024. REUTERS/Annegret Hilse
Companies & Markets

Thailand's Central buys German luxury retail property KaDeWe

Galeria Karstadt Kaufh, Germany’s most prominent retailer, earlier this year filed for insolvency following the collapse of its parent Signa, the Austria-based property empire that has become the biggest casualty so far in Europe’s real-estate crisis.
Companies & Markets

US investor Baker, Beetz-led group to buy Germany's Galeria, sources say

A deal may help Signa Prime Selection resolve a deadlock in its broader restructuring related to a previous loan deal with Schoeller.
Property

Signa to sell luxury Vienna landmarks to break debt impasse

The plan that Signa Prime will present on Monday seeks to convince creditors that the current management’s strategy will stabilise the firm and repay creditors at least 30 per cent of their claims within two years.
Property

Signa Prime set to present repayment plan in bid to avert liquidation

The insolvency of European luxury property group Signa could hurt more players across the financial industry, but demand for private debt is said to remain high.
Banking & Finance

Private credit market reports few ripples from Signa fallout

A probe launched since the initial revelation in November showed that risk managers didn’t have a handle on the complex nature of the Benko loans, people familiar with the matter said.
Property

Inside Julius Baer’s failed gamble on Signa real estate empire

FILE PHOTO: CEO Philipp Rickenbacher of Swiss bank Julius Baer addresses the annual news conference to present the results for 2019 in Zurich, Switzerland February 3, 2020. REUTERS/Arnd Wiegmann/File Photo
International

Julius Baer to exit private debt after Benko saga claims CEO

A Julius Baer branch in Zurich. Photographer: Stefan Wermuth/Bloomberg
Property

Julius Baer to take US$460 million Benko write-down

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