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Igd Siiq: capital increase for 150 million to buy shopping arcades

16 December, Il Sole 24 Ore

Igd Siiq, namely Immobiliare Grande Distribuzione listed in the Star segment, has signed a preliminary agreement for the purchase from Eurocommercial Properties Group of four shopping arcades and one retail park for a total investment of approximately 200 million euro. The Bologna-based company announced yesterday its intention to proceed with a capital increase for a value of 150 million euro to partially fund this operation.

This operation will allow to Igd – explains the company – to restructure two of the four properties to  (arcade and supermarket)  and to consolidate the brand “Coop”, the anchor operating in the grocery sector present in all the shopping centres of the portfolio, granting more flexibility and quicker asset management operations.

Source: Il Sole 24 Ore

Translator: Cristina Ambrosi

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