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Steinhoff Sells Austrian Unit to Signa, Averting Insolvency

By Tony Seruga

Steinhoff International Holding NV agreed to sell its Austrian furniture retailer Rudolf Leiner GmbH and real estate assets in the country to Rene Benko’s Signa Holding GmbH to prevent a looming insolvency of the unit.

Signa’s offer for the business and the properties was accepted by Steinhoff, Rudolf Leiner Chief Executive Office Gunnar George said in an emailed statement on Thursday. “In the coming days, all contracts will be agreed and fixed,” George said in the statement…

Steinhoff Sells Austrian Unit to Signa, Averting Insolvency

Categories : Commercial Real Estate

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