Central SICAF announces that, on March 27th, 2019, considering successfully completed his mandate, Professor Tommaso Di Tanno has resigned from the role of Chairman of the Board of Directors.
Central SICAF informs that the Board of Directors has appointed Mr. Olivier Estève as new Chairman.
The reinforcement of the strategic positioning in the main cities and the upgrade of portfolio profile operated by Central Sicaf.
An agreement on Telecom Italia portfolio for the disposal of €158 million of assets has been signed. The agreement involves 11 assets strategic to TIM telecommunication network, located in secondary cities.
The agreement also modernizes the portfolio in line with the strategy to foster “green lease” rental options.
In addition the agreement provides for the anticipated release of 8 assets with maturity in 2021. The closing is expected in 3Q 2018.
Both of the current investors have increased their share in the Sicaf by a 4.5% ratio to a value in line with the NAV of the Sicaf, thus confirming the appeal of Italian real estate for long-term international investors.
Following this operation, Beni Stabili SIIQ controls Central Sicaf for the 51%, while Crédit Agricole Assurances and EDF Invest control a 24.5% share each.
Beni Stabili SIIQ, the leading property company in the Italian real estate sector, closed today the disposal of 40% stake in the largest Italian Real Estate Sicaf. The value of the stakes, which include the Telecom Italia location portfolio, is equal to approximately 1.5 billion Euros, along with the associated debt, which amounts to 0.8 billion Euros approximately.
Crédit Agricole Assurances and EDF Invest have each acquired a 20% stake in the Sicaf from Beni Stabili. Beni Stabili maintains control over the Sicaf through its 60% stake.
This landmark transaction confirms the appeal of Italian real estate for long-term international investors and constitutes a key stage in the strategy of Beni Stabili.
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.