Aedes Group and Fiat Partecipazioni signed an agreement for the exercise of the call option by Fiat Partecipazioni on the Lingotto complex in Turin and on business and technical complexes in Arese (Milano) at a price of â¬ 140 million.
Payment of the sale price by Fiat Partecipazioni will be settled as follows:
- â¬ 133,5 million by offsetting credits payable to Aedes Group, and
- â¬6.5 million in cash
The agreement for the sale of these properties will result in a gain to Aedes Group before tax effects of â¬6.8 million and enable the company to reduce net indebtedness by â¬140 million.