- Simone Preuss
-
|
The Austrian retail and real estate group Signa Holding GmbH executed a
capital increase of 700 million euros (around 775 million US dollars or 622
million British pounds) by its existing shareholders last week. Moreover,
its largest subsidiary Signa Prime Selection AG, as the flagship real
estate company of the Signa Group, will execute a 500 million euros (around
554 million US dollars or 444 million British pounds) capital increase
tomorrow, September 17th, 2019, which is already fully subscribed. This
will raise the group’s equity to 1.2 billion euros in total.
“The proceeds from the capital increases will be used for future
acquisitions and bolstering the Signa Group’s liquidity reserves. After
closing of the Kaufhof transaction, the entire group has access to
liquidity reserves of more than 1 billion euros for future growth. The
Group’s total gross asset value in real estate by the end of the year 2019
exceeds 20 billion euros, which positions Signa as one of the biggest real
estate owners in Europe,” said the company in the press release.
Apart from Signa Holding, key strategic shareholders in Signa Prime
include the German endowment RAG Stiftung, the two German insurance
companies R+V and LVM, the listed investment company of the Peugeot family
FFP Group, Madison International Realty, Longbow Finance as well as various
successful European entrepreneurs and their family offices.
After merging HBC Europe and Signa’s Karstadt Warenhaus
GmbH at the end of last year, Signa completely took over the German
department store chain Galeria Karstadt Kaufhof for one billion euros in
June of this year.
