June 15, 2018 / 12:42 PM / 4 months ago

Benko's Signa says plans to put Kika/Leiner back on its feet

VIENNA, June 15 (Reuters) - Investor Rene Benko’s Signa Holding sees great intrinsic value in Austrian furniture and household goods retailer Kika/Leiner, which it agreed to buy from Steinhoff, it said on Friday.

Benko reached a deal to buy Kika/Leiner’s Austrian division as well as its central and eastern European businesses on Thursday, saving it from bankruptcy.

“Our focus is set on creating a sustained and financially secure perspective for this Austrian company with its rich tradition and its dedicated staff,” Stephan Fanderl, managing director at Signa Retail said in a statement. (Reporting by Kirsti Knolle; Editing by Adrian Croft)

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