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Austrian Billionaire Due Big Payout After Real Estate Revaluation

  • Signa Prime unit plans 201 million-euro dividend for 2019
  • Assets revalued by 933 million euros to fuel profit surge
Rene Benko

Rene Benko

Photographer: Sebastian Widmann/Getty Images 

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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.

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.