Kühne
Strategic Concepts & Mechanics
Primary Evidence
"In an investor like the freight forwarder Kühne, Benko successfully played the role of the son that Kühne never had. He asked how he would tackle this or that business problem and was even invited by Kühne to the business summit in Mallorca at his hotel – an ideal playground for those searching for investors. "I know no one who could sell so effectively to his audience as Benko," says a confidant of Kühne."
""I am a fighter, and that will not change. I express my opinion very clearly, I criticize sharply when I think it's appropriate. This style has brought me success," said the then 85-year-old man to journalists shortly thereafter at the beginning of 2023. He then added two sentences that had the potential to undermine the structural pillars of the corporate construct. "The situation is currently somewhat volatile," he described the state of Signa. "We are monitoring this matter." Both sentences were authorized by Kühne for publication. He pointed out that he could exit in two years with some financial concessions thanks to a put option."
"However, many things were quite different from what is known from the stock market, where all shareholders are treated equally. Benko is said to have told each Signa investor their own tailored story. Many had an individual special deal. Some, like the RAG Foundation or Kühne, received dividends for 2022 if they made a fuss – something the other shareholders were not allowed to know. Some, like Roland Berger or temporarily Torsten Toeller, were allowed to attend the supervisory board of Prime as guests if they insisted. Others were not. Numerous investors were given put options, which allowed them to exit within certain periods. Others were not."