Niki Lauda private foundation acquires stakes in SIGNA Prime and SIGNA Retail (AT)

The private foundation of former Formula 1 driver, Austrian sporting icon and leading businessman Niki Lauda, will acquire 1% of SIGNA Prime and a 10% stake in SIGNA Retail. SIGNA Holding will retain the remaining 90% of the shares in SIGNA Retail.
SIGNA Prime Selection AG is SIGNA’s flagship company, and the leading owner and developer of city-centre retail properties in German-speaking Europe, with a portfolio valued at approx. €4 billion. The long-term portfolio accounts for a significant proportion of the company’s assets, and includes high-quality properties such as those that make up Vienna’s Goldenes Quartier, and Kaufhaus Tyrol in Innsbruck as well as the legendary KaDeWe in Berlin.
SIGNA Retail is managed by a board of experienced retail experts. It holds controlling stakes in the three independent German department store businesses Karstadt Warenhaus, Karstadt sports and The KaDeWe Group. All three are major players in the industry: In over 100 stores, 20,000 employees are generating annual revenues of more than three billion euros.
As three-time Formula 1 world champion, in 1975, 1977 and 1984, Niki Lauda is one of the most successful drivers in the history of international motorsports. His passion for aviation led him to set up Lauda Air and later Fly Niki, paving the way for his stellar career in the world of business. Following the sale of both airlines, Lauda is currently head of the supervisory board of the Mercedes AMG Petronas – formula 1 team.
According to Christoph Stadlhuber: “In Niki Lauda’s private foundation SIGNA Prime and SIGNA Retail have acquired a successful, high-performance partner for their real estate and retail operations. In all of his business ventures Niki Lauda adopts the same values and performance-driven approach as SIGNA.”
Niki Lauda added: “I’ve known SIGNA and its founder René Benko for many years and have been keeping a close eye on the company’s activities. As a result, my private foundation has taken the opportunity to invest directly in the group. We have complete confidence in the speed of the company’s development and its performance, and the fact that we have the same approach to business was another decisive factor. I was particularly impressed by the make-up of the real estate and retail teams, which consist entirely of professional managers.”
Source: Signa

Related News