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Niki Lauda buys into Rene Benko's business - report.

July 21 (SeeNews) - Niki Lauda, founder of low-cost airline FlyNiki, has acquired 10% of Signa Retail GmbH and 1% of Signa Prime Selection AG, both owned by Austrian entrepreneur Rene Benko, in order to diversify his business, Lauda said in an interview with business daily Wirtschaftsblatt.

Signa Prime Selection manages a real estate portfolio worth some EUR 4 billion (USD 4.33bn) and Signa Retail operates Benko's retail business in Germany, including store chains KaDeWe Group, Karstadt Sports and loss-making Karstadt Warenhaus. The real estate business is the safer investment while the retail business is more interesting, Lauda was cited as saying. The former Formula One driver will bring his know-how in his active role as an advisor in Signa Retail.

Besides Benko Lauda is the only investor in Signal Retail and there is no strategic plan to open the company for more investors, Christoph Stadlhuber, head of Signa Holding, told the paper.

Lauda did not disclose the volume of the investment.

(EUR 1.0 = USD 1.083)

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Publication:SeeNews Austria
Date:Jul 21, 2015
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