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industrial Market News: Spanish Real Estate Intelligence

M&A boom in the logistics sector in 2019
11 January, Milani Finanza 2019 has just started, and it looks like a dynamic year concerning M&A in the logistics and transport sector. Several operations have been concluded in the first ten days of the year. The logistics company from Alto Adige Fercam announced that, after having leased a company division of Artoni in April 2017, along with its real estate partner Prelios, it had acquired Artoni which is under compulsory administration. The operation concerns 26 properties throughout Italy and over 1,500 work load units, mainly swap bodies. The Mrz group, through the Piedmont subsidiary Marenzana, took over Effepierre Multiservizi, the Milan road and rail shipping company specialised in the transport of raw materials by silos, tanks, refrigerated trucks and tarpaulin-covered containers. The two companies complete each other since Merenzana is specialised in the domestic and international transport of liquid products, gas and wastes, as well as operating in the cleaning of tanks. Effepierre is owned and guided by Francesco Prestileo, has a turnover of approximately 4 million and it will continue working as an autonomous entity within the new group. Moreover, there has been the acquisition of 70% of Clerici Logistics, the Genoa-based company operating in the logistics and transport of fresh fruits via refrigerated truck. The company is owned by Alfonso Clerici, who holds 30% of the company and will remain the Ceo. It was acquired by the Spanish group Martico SL, a leading courier in Europe specialised in the transport of food via refrigerated trucks. The new company has been named Martico Clerici srl. Thanks to the partnership, the company will be operating on the Italian market, as well as from the Martico offices in Belgium, France, Germany, Netherlands, Poland, Slovenia, Croatia, Turkey, Egypt and South America. The group Grimaldi from Naples is about to officialise a deal concerning a vast and critical area of the port of Livorno. As announced by the commercial and operational director Costantino Baldissara, Grimaldi will settle in the former Trinseo factory. “We’ve signed an agreement, and we’re about to close the deal for the acquisition of the former Trinseo factory, which is currently being requalified. The area covers a surface of 115,000 Sq m for an investment amounting to 15 million”, says Baldissara. “The forecourt will be used for car handling, and we plan to build a silo to stock the vehicles”. For Grimaldi, the port of Livorno represents a crucial position for sea shipping and automotive logistics. The corresponding dock has no direct access to the sea, but it’s linked via rail, and it’s currently occupied by the logistic infrastructure of Trinseo. The multinational operates in the production of styrene plastic, rubber and latex for the paper industry. The termination of the activities was announced in 2016. Source: Milano Finanza Translator: Cristina Ambrosi
Fercam with Prelios for the acquisition of Artoni
10 January, Corriere del Trentino The match over the road transport company Artoni is over: the two separate but connected offers from Fercam from Bolzano and Prelios concerning the real estate part have won. In the end, Fercam won the competition for the acquisition of Artoni Trasporti and Artoni group (real estate), as both companies were put on compulsory administrative liquidation. The Ministry of Development authorised the special commissioner Franco Maurizio Lagro to accept the binding offers submitted by Prelios and Fercam concerning the sale of the whole Artoni group. The sale contract will be ready in the next few weeks along with the start of the procedures with the unions. This last news confirmed the announcement made on 30th November when the lease contract of the Artoni division already managed by Fercam was extended. The competition implied two modalities for the transfer: either the transfer of the entire group for a total of 39 branches or a part of it including the significant real estate assets held by Artoni Group. These two options were unified by the double offer advanced by Fercam with Prelios. The lease contract of 14 Artoni branches to Fercam is valid till 31st January. Fercam was granted the pre-emption right on 17th July for a price above 25.5 million euro excluding VAT. The decline of Artoni started in 2011 and continued till 2015 accumulating a 150 million debt. In October 2017, the Court of Emilia Romagna declared the bankruptcy of Artoni Group Spa, following that of Artoni Logistica a couple of months before. For Fercam, the acquisition of Artoni means a significant step in the logistics and transport sector, where it already has warehouses space for 1.2 million Sq m, 2,000 employees, 3,350 work load units and 93 branches, reporting in 2017 revenues for 757 million euro. Prelios Spa, former Pirelli Real Estate, with president Fabrizio Palenzona, is a real estate management company mainly operating in Italy and Germany. In 2017 the company reported profits for 80.4 million. Source: Corriere del Trentino Translator: Cristina Ambrosi
Real estate: e-commerce caused rents for logistic assets to rise
09 January, Ansa In 2018, e-commerce caused an increase in rents for logistic assets. The trend emerged from the latest Real Estate Report by World Capital, showing that the Italian market is recovering. The growth mainly concerns new construction: +8% in Naples (where the highest price is set at 52 euro/Sq m/year), followed by Milan with +6% (56 euro/Sq m/year) and Bologna (55 euro/Sq m/year). The surface for newly-built logistic assets grew nationally by 50%. The demand for last generation assets caused the number of built-to-suit facilities to increase. Lucia Dattola from World Capital commented: “Large part of the demand for last generation warehouses comes from couriers, often looking for specific dimensions, generally 3,000-5,000 Sq m, close to the city and with a precise layout”. Source: Ansa Translator: Cristina Ambrosi