Signa Conglomerate Receives Creditors' Approval to Sell Assets for Restructuring

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.