Billionaire Peugeot Family Writes Down Signa Payout After Delay
- French investor books 50% loss on dividend due last year
- Peugeot has stakes in Rene Benko’s €23 billion property group
Photographer: Eric Piermont/AFP/Getty Images
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France’s billionaire Peugeot family wrote down money owed by units of Rene Benko’s troubled Signa, the latest sign that investors in the embattled mogul’s property empire are bracing for losses.
Peugeot Invest UK Ltd., the entity holding stakes in Signa Prime and Signa Development, slashed 50% off the value of about $17 million in dividends, according to an annual financial report. The payouts were due by the end of 2022 but still hadn’t been paid as of October, the filing said.