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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