29 April 2010 14:01
Price Sensitive shopping centers

The IGD Group signs a contract for the purchase of two divisions of the “Millenium Center” shopping center in Rovereto

Following this investment, amounting to €2.6 million, the IGD Group will hold approximately 40% of the whole shopping center

Today IGD – Immobiliare Grande Distribuzione SIIQ S.p.A., a company active in the retail real estate sector and listed on the Star segment of the Italian Stock Exchange, through its wholly owned subsidiary Millennium Gallery S.r.l. Unipersonale, signed a contract with a private party for the purchase of a retail sales division involved in the sale of non food products and a food and beverage services division both of which operate inside the “Millennium Center” in  Rovereto (Trento).

The total value for the purchase of the two divisions, including the real estate assets,  amounts to €2.3million in addition to tax and accessory charges.

Following this transaction, together with the divisions purchased beginning in February 2007, the IGD Group will hold approximately 40% of the entire “MillenniumCenter” Shopping Center.

The transaction is in line with the 2009-2013 business plan presented by the IGD Group last November 2009 and is further testimony to the timely delivery of the pipeline defined by the Group.