Austrian Billionaire Due Big Payout After Real Estate Revaluation

(Bloomberg) — Austrian property billionaire Rene Benko and his outside investors are set for a big payout after his trophy-asset unit revalued assets to double net income.



René Benko talking on a cell phone: KITZBUEHEL, AUSTRIA - JANUARY 20: Austrian real estate tycoon Rene Benko attends the KitzCharityTrophy on January 20, 2018 in Kitzbuehel, Austria. (Photo by Sebastian Widmann/Getty Images)


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KITZBUEHEL, AUSTRIA – JANUARY 20: Austrian real estate tycoon Rene Benko attends the KitzCharityTrophy on January 20, 2018 in Kitzbuehel, Austria. (Photo by Sebastian Widmann/Getty Images)

Signa Prime Selection AG, which owns luxury retail sites including Berlin’s KaDeWe and Vienna’s “Golden Quarter,” plans to pay 201 million euros ($237 million) in dividends, the company said in a document on its closed-door shareholder meeting, which was filed to the Austrian company register. The payment is due by the end of 2020.



René Benko talking on a cell phone: Austrian real estate tycoon Rene Benko attends the KitzCharityTrophy on January 20, 2018 in Kitzbuehel, Austria


© Getty Images
Austrian real estate tycoon Rene Benko attends the KitzCharityTrophy on January 20, 2018 in Kitzbuehel, Austria

The bumper payout for last year’s results comes as the coronavirus crisis prompted other retail landlords like Unibail-Rodamco-Westfield, Europe’s biggest, to

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