IGD signs a sale agreement for one asset included in its Romanian portfolio
First result of the non-core asset disposal plan anticipated by IGD in its 2025-2027 Business Plan
IGD – Immobiliare Grande Distribuzione S.p.A. (the “Company”) – announces the signing, through its subsidiary Win Magazin S.A., of the final contract for the sale of a shopping center included in its Romanian portfolio to a Romanian private investor.
The shopping center being sold is “Winmarkt Somes” in Cluj (7,873 sqm GLA and key tenants such as Carrefour, DM, Pepco and Dr. Max) for a total value of approximately €8.3 million, in line with its book value.
The costs for some technical adaptation works are borne by the seller.
The execution of this agreement represents the first concrete result of the “non-core” assets disposal plan aimed at reducing the Group’s financial leverage, as anticipated in the 2025-2027 Business Plan, just three months after the plan was presented[1] to the market.
“This disposal we are announcing to the market today confirm that the new strategy we have implemented with a view to completing the disposal of the Romanian portfolio is effective and has kindled the interest of private and institutional investors in the retail segment,” commented Roberto Zoia, CEO and Managing Director of IGD SIIQ S.p.A. “IGD will pursue with determination the implementation of the disposal program outlined in the Business Plan, intended to strengthen our capital and financial structure and steadily keep the focus on the Italian market.”
IGD was represented in the sale by CBRE, as exclusive real-estate consultant, and by Dentons, as legal advisor. Laura Dumea Bencze, Director Investment Properties CBRE Romania: “Together with IGD we devised a marketing and sale strategy that has proved to be successful. The sale towards a Romanian investor is on par with the overall market dynamics, as Romanian players have been active in recent years, with around 25% of all real-estate deals done by locals.”
