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Bank of Italy authorises the creation of the most important Italian Real Estate SICAF

Bank of Italy has granted authorisation to Beni Stabili, the leading property company in the Italian real estate sector, to set up the main Italian Real Estate Sicaf to which the Group will confer all of its Telecom Italia location portfolio.
Beni Stabili will keep 60% of the share capital. The two main international investors, Crédit Agricole Assurances and EDF Invest, will each acquire a 20% stake in the Sicaf from Beni Stabili.
The Sicaf shall be incorporated in Q1 2017.