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Milanosesto: new governance and 100 million by September

26 April, Il Sole 24 Ore

There are some developments concerning Milanosesto, the ambitious requalification project of the former Falck steelworks located between Milan and Sesto San Giovanni. The interests held by the retail division of the Saudi group Fawaz Alhokair Arabian Centres might rise from 25% to 50%. However, the company will have to find capitals for a total of 100 million as a settlement for the lands bought to build a shopping mall. On the other hand, Davide Brizzi, holding 46.69% of the project, and Intesa Sanpaolo aim at defining the governance which might see the involvement of Prelios and Hines. This latter is meant to find institutional investors to invest in the single lots of the project.

Source: Il Sole 24 Ore

Translator: Cristina Ambrosi

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