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Nova Re Siiq invested 23.3 million for three hotels

06 December, Monitor Immobiliare

The Board of Directors of Nova Re Siiq approved the agreement concerning investments with Hotel Alla Salute, Alberghi Internazionali and Shg Hotel Verona for the acquisition of three hotels in Verona, Bologna and Vicenza.

The agreement implies the acquisition, also in multiple tranches, of the assets for 23.3 million euro in total. The purchase will happen through the acquisition of an ownership quota equal to 53.64% for each property, paying about 12.49 million through bank loans, while the remainder will be paid in cash (46.352% of each asset).

The Board has started the procedure for the capital increase in cash in three tranches for a total amount of approximately 10.8 million, including a premium, through the issuance of a maximum of 1,970,804 common stocks at 5.48 euro each which will be disposed of by the seller through separate transfers of ownership quotas equal to 46.352%.

Source: Monitor Immobiliare

Translator: Cristina Ambrosi