Rene
Benko, one of Europe s most prominent property tycoons, on
Wednesday relinquished the chairmanship of Signa Holding, the
real estate empire he founded, amid an investor revolt and
dimming.
Rene Benko, one of Europe's most prominent property tycoons, on Wednesday relinquished the chairmanship of Signa Holding, the real estate empire he founded, amid an investor revolt and dimming prospects for the sector. Signa's troubles have come to symbolise the repercussions of a surge in interest rates on companies that have borrowed heavily to grow. Born in 1977 in Innsbruck, Rene Benko dropped out of school and began by turning attics into apartments.
Explainer: How tycoon and Chrysler Building owner Benko lost grip of his empire reuters.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reuters.com Daily Mail and Mail on Sunday newspapers.
By Matthias Inverardi, Alexandra Schwarz-Goerlich and Tom Sims VIENNA/DUESSELDORF/FRANKFURT (Reuters) - Rene Benko, one of Europe's most prominent pro.