14 November 2006 13:07
Price Sensitive extraordinary operations

Beni Stabili and IGD: created the Joint Venture “RGD Riqualificazione Grande Distribuzione”, aimed at acquiring and boosting the value of the already operative shopping centres

Today Immobiliare Grande Distribuzione S.p.A. and Beni Stabili S.p.A. signed an agreement for the creation of a Joint Venture, equally participated, finalized at the creation of the company “RGD Riqualificazione Grande Distribuzione” with the aim to acquire and valorize the already existing Shopping Centres.

The new company RGD, directly owned by IGD and Beni Stabili at 50% each, will have an initial equity value of about € 120 milioni with a medium term investment target of about € 500 million.

Investments will be financed mainly through debt in order to maximize the value creation of the company.

This agreement represents an alliance between two players with a consolidated expertise in the real estate market. Such partnership will be strategic for future developments in a segment with high investment potential.