Billionaire Peugeot Dynasty Takes Near $300 Million Signa Hit
- Car maker clan’s investment arm reports loss on Signa collapse
- Peugeot Invest CEO Bertrand Finet is set to leave by end-July
Shareholders of Signa Prime and Signa Development are set to lose almost all of their investments based on a restructuring plan approved by creditors.
Photographer: Michaela Nagyidaiova/BloombergThis article is for subscribers only.
The billionaire Peugeot family has revealed the extent of its losses from investments in the collapsed Austrian property empire Signa, a further black mark in the clan’s track record on diversification.
Peugeot Invest, the listed firm controlled by the French clan and headed by Robert Peugeot, reported net losses of €272 million ($296 million) from holdings across the Signa group since inception, making up the bulk of the total hit from real estate holdings.