20 July 2009 11:53
Price Sensitive extraordinary operations

IGD cancels the preliminary purchase contract for the shopping mall in Peschiera Borromeo, just outside of Milan

Igd Siiq, one of the key players in the Italian retail real estate sector and listed on the Star segment of the Italian Stock Exchange, cancelled the preliminary purchase contract for the shopping mall in Peschiera Borromeo, just outside of Milan, which called for investments totaling €80 million.

The final outcome of the authorization process, in fact, called for the realization of a project which was different than the one originally provided for in the preliminary contract signed on August  3rd, 2007. The initiative will continue, though configured differently, based on the new agreement between the participants which Igd Siiq, at present, does not intend to get involved in.

Following cancellation of the contract,  IGD SIIQ was reimbursed the entire deposit made equal to €1.48 million.