Schoeller deal over – sale of luxury properties in Signa canceled

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The creditors’ meeting of bankrupt Signa Prime has once again not approved the sale of luxury real estate to the German industrial Schoeller family. The deal has finally been called off, creditor circles told APA on Thursday.

On Monday, the creditors’ committee ruled against the sale to Schoeller and ultimately rejected the transaction on Wednesday. It is said that some creditors had no explanation as to why there was no alternative to the deal.

Assets include the Goldenes Quartier, the Hotel Park Hyatt in Vienna and the Tirol department store in Innsbruck. The German industrialists helped René Benko’s Signa Prime Selection out of the liquidity crisis last summer with a loan of 200 million euros.

In return, the Schoeller family received liens on the financing company Signa Prime Capital Invest GmbH, which includes shares in valuable properties such as the planned luxury department store Lamarr in Vienna, the KaDeWe in Berlin and the Elbtower project in Hamburg.

Only on Wednesday did the Munich Public Prosecution Service confirm a report in the German media that real estate juggler and Signa founder René Benko was being investigated for money laundering.

Source: Krone

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