PropertyCommercialCommercial real estatePrint articleSelfridges owner to cede control of $38b empire amid property crunchMarton Eder, Libby Cherry and Giulia MorpurgoNov 5, 2023 – 8.46amSaveLog in or Subscribe to save articleShareCopy linkCopiedEmailLinkedInTwitterFacebookCopy linkCopiedShare via...Gift this articleSubscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? LoginRene Benko is stepping down from his €23 billion ($38 billion) property empire, giving in to shareholder pressure as a cash crunch threatens the owner of high-profile properties including New York’s Chrysler Building and Selfridges in London.Signa Holding GmbH has been reeling under a liquidity crunch triggered by plunging valuations and rising interest rates, and investors began losing faith in the self-made Austrian tycoon’s ability to stabilise the group.Loading...BloombergSaveLog in or Subscribe to save articleShareCopy linkCopiedEmailLinkedInTwitterFacebookCopy linkCopiedShare via...Gift this articleSubscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? LoginIntroducing your NewsfeedFollow the topics, people and companies that matter to you.Find out moreRead MoreCommercial real estateInterest ratesLatest In CommercialFetching latest articlesMost Viewed In Property
