A Jewitz spokesman did not want to confirm this information. A Cigna spokesman could not be reached for comment.
Request to withdraw in the letter
“The shareholders have acknowledged this step in a positive and positive way,” von Haselsteiner told Ö1 about Banco’s withdrawal. Several shareholders, including Haselsteiner, had asked Benco in a personal letter to withdraw from Signa Holding’s advisory board and transfer its voting rights to a trust. “This request was responded to generally favorably by Rene Benko,” says Haselsteiner.
Discussions are still ongoing
For his part, Benko now wants to know “whether shareholders would also be willing to contribute to the restructuring of the group with such a far-reaching solution,” Haselsteiner added. The Tyrolean investor has basically responded to the cycle and to shareholders’ demands, “but not yet completely.” Talks are still ongoing, and according to Haselsteiner, a solution could be reached over the weekend.
Kika/Liner II should be banned
Haselsteiner also justified investors’ appeal to withdraw from the (online) Standard by saying that a second Kika/Liner should be banned. Signa acquired Kika/Leiner in 2018. In the summer, the furniture chain slid into bankruptcy just days after Signa was sold to new owners.
Krohn: Voting rights were handed over to Goetz
According to a report in the newspaper “Kronen Zeitung” (online), Benko has already handed over his voting rights in Cigna to Goetz. Jewitz was previously appointed by Banco as a restructuring advisor. His appointment follows a series of turmoil surrounding Cigna Group. For example, Signa Sports United, a Benko-based online sporting goods retailer, has run into trouble, and there have also been increasing reports of losses from its real estate division. Recently, it appears that the construction of the Elbtower in Hamburg had to be halted due to payment difficulties at Signa Prime.
Complex investment structures
Banco has no operational role on paper, but owns shares in the group directly and indirectly through institutions. The investment structures are complex and there are no consolidated financial statements for the group of companies. According to the company’s registry, the private Hasselsteiner family foundation holds 15% of the holding shares, Fressnapf Luxembourg about 4.5%, and Swiss director Ernst Tanner about 3% – and they all spoke in the letter in favor of Banco’s withdrawal.
Well-known names in Cigna Holdings
Markus Mühlberger and Christoph Stadlhuber are Managing Directors of Signa Holding. Members of the advisory board include former Chancellor Alfred Gusenbauer (SPÖ), former Wüstenrot president and politician (FPÖ) Susanne Reis Hahn, former Austrian Casinos chief Karl Stoess, and former Reserve Bank of India chief Karl Siefelda.
Gusenbauer, who is also chairman of the supervisory boards of Signa Prime Selection and Signa Development Selection, could not be reached by phone Friday when asked by APA. He told Al-Sahafa (Online) about the events surrounding Banco and Jewitz: “Communication is carried out by shareholders and managing directors. “Once I am presented with something that is ready for decision, I will evaluate it in the committees I am on.”
“Total coffee aficionado. Travel buff. Music ninja. Bacon nerd. Beeraholic.”