
Signa Conglomerate Receives Creditors' Approval to Sell Assets for Restructuring
By
Amadeo de la Rosa
1 min read
⚠️ Heads up: this article is from our "experimental era" — a beautiful mess of enthusiasm ✨, caffeine ☕, and user-submitted chaos 🤹. We kept it because it’s part of our journey 🛤️ (and hey, everyone has awkward teenage years 😅).
Creditors of Signa conglomerate have backed plans to sell off assets as part of a restructuring, with an expected recoup of about 30% of their money. The two main property units, Signa Prime Selection and Signa Development Selection, received approvals for the proposed asset sales at meetings in Vienna. The lenders, including banks, insurers, and sovereign wealth funds, supported the restructuring plans.