Aedes and Brioschi Finanziaria reach agreement on sale of 50% equity interest in Quadrante (IT)

Aedes SpA and Brioschi Finanziaria SpA have reached an agreement on the sale of the 50% equity interest held by Brioschi Finanziaria in Quadrante SpA. Quadrante is a company that owns a development area located in the southeastern part of Rome, in the Torrespaccata-Centocelle section, which stretches over more than 64 hectares.

The purchase price is €48,117,000 for the entire equity interest held by Brioschi in Quadrante, plus € 2,582,284.50 for a claim of Brioschi Finanziaria on Quadrante arising from a shareholder loan.

Brioschi Finanziaria has a carrying value of €31,344,000 for the equity interest in Quadrante.

The payment of the future installments will be secured by first-demand guarantees.

The price for the sale of the shareholder loan extended by Brioschi Finanziaria is €2,582,284.50, equivalent to the nominal value of such loan, which will be paid on the Closing Date.

Aedes S.p.A. will finance the acquisition with a combination of own cash (30%-40%) and debt.

Source: Aedes

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