30 September 2019 12:15

IGD signs final contracts for the sale of assets

IGD – Immobiliare Grande Distribuzione SIIQ S.p.A. (“IGD” or the “Company”), in relation to what previously reported on 1 July, announces that today it has signed with a premiere international real estate player final contracts involving:

  • the sale by Porta Medicea Srl (a wholly-owned subsidiary of IGD) of “Palazzo Orlando”, an office building in Livorno, for €8 million (in addition to taxes);
  • the purchase by IGD of the 50% interest in the “Darsena City” Shopping Mall of which it is currently joint-owner;
  • the purchase by IGD Management Srl (a wholly-owned subsidiary of IGD), of the 50% interest held in the joint venture RGD Ferrara 2013 Srl – owner since 2013 of the Darsena City operations – of which IGD is currently joint-owner.
    The IGD Group will pay a total of €9 million (in addition to taxes) for the two acquisitions.

The agreements will allow IGD to focus on its core business (retail real estate).