Benko chapter: Kühne expects “emergency sales” of Signa properties | EUROtoday

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On Jun 15, 2024

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Business Benko chapter

Billionaire Klaus-Michael Kühne expects “emergency sales” of Signa properties

Status: 01:01 am | Reading time: 2 minutes

The Hamburg logistics entrepreneur Klaus-Michael Kühne is taken into account a serious investor in the true property of the bancrupt Signa Group. The losses might be immense, the billionaire says in an interview. He sees potential in a serious challenge from the Benko empire.

DThe logistics entrepreneur Klaus-Michael Kühne has for the primary time made a complete assertion about his monetary involvement with the Austrian actual property entrepreneur René Benko.

“Mr. Benko showed me many beautiful photos of the properties and I let him lull me into a false sense of security,” Kühne mentioned in an interview with WELT AM SONNTAG.

The majority proprietor of Kühne + Nagel has a stake in some luxurious properties owned by Benko's bancrupt Signa firm by his personal holding firm. “The property values in these are still there, but there is now a threat of distress sales and then there won't be much left of the values,” says Kühne.

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According to his estimates, he will likely be affected by losses within the a whole lot of tens of millions of euros. “I often ponder how this could have happened to me,” mentioned Kühne. However, the loss is bearable.

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Signa Holding introduced its insolvency in November. The Elbtower building website in Hamburg additionally turned a logo of the chapter. Kühne informed WELT AM SONNTAG that he wouldn’t rule out a stake within the constructing.

“A lot of liquidity is needed to complete the Elbtower,” mentioned Kühne. However, if the town of Hamburg develops a smart idea for the continued building and the leasing of bigger areas and will get concerned on this, he wouldn’t rule out making his personal monetary dedication. However, this is able to require attracting additional traders. “I say this with a touch of emotion for my hometown of Hamburg,” mentioned Kühne.

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When requested about politics in Germany and the success of the Alternative for Germany occasion, Kühne mentioned: “I find it astonishing that the AfD has so many supporters.” He himself had not anticipated the success. “I really hope that many people will recognize what strange people they are,” mentioned Kühne.

After the subsequent federal election, he may think about the experiment of a black-green coalition if a superb division of labor succeeds and inexperienced insurance policies are mixed with the CDU's business-friendly insurance policies, mentioned Kühne. “That would be sensible and could work best,” mentioned the entrepreneur.

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https://www.welt.de/wirtschaft/article252033144/Benko-Pleite-Kuehne-rechnet-mit-Notverkaeufen-von-Signa-Immobilien.html