Multi takes 100% ownership in Italy - becomes Multi Development Italy (IT)

After 6 years of collaboration, Multi and CDS Holding (its 25% partner in Italy since 2005) have decided to follow different strategies for their retail development business; negotiations were just concluded for the acquisition by Multi of the 25% stake of CDS.

Multi will again operate independently in Italy for all new development and consulting projects.CDS Holding remains involved only as a minority partner in MMM Italy and companies related to existing projects.

Paolo Tassi, Managing Director of Multi Development Italia said: "Multi believes strongly in the Italian market and this means we can now focus fully on the numerous opportunities available to a retail developer with our track record."

Multi's Forum Valle Aurelia project, located in the inner-city of Rome, close to the Vatican, will start construction shortly and Multi Development Italy is expanding its consultancy work for third parties in the areas of shop leasing, property management and overall project development.

Source: Multi

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