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.