Immobiliare Grande Distribuzione S.p.A. and Beni Stabili S.p.A. have announced that they have signed an agreement for the creation of a 50/50 joint venture that will lead to the establishment of "RGD Riqualificazione Grande Distribuzione", a company whose role will be to acquire and develop existing shopping centers.
The new company, which will be 50% owned by IGD and 50% by Beni Stabili, will have initial equity of approximately 120 million and a medium-term investment target of around 500 million. Investments will be financed primarily via the use of financial leverage, in order to maximise the value of the company.
The transaction marks an alliance between two leading property companies, which will prove strategic for future expansion in a sector with high investment potential.
Source: Beni Stabili