Beni Stabili Gestioni will merge with Polaris Real Estate and Investire Immobiliare
Beni Stabili Gestioni, the Italian real estate company, will merge with Polaris Real Estate sgr andInvestire Immobiliare, reported Italian daily Il Sole 24 Ore.
The article, which quoted unnamed sources, said the agreement will be completed at the beginning of next week. The new entity will have assets under management of EUR 7bn, second to Idea Fimit (EUR 9.4bn). Mediobanca has been advising on the merger, the report added.
Polaris Real Estate is majority owned by Cariplo. Beni Stabili Gestioni is 75% owned by Beni Stabili, 10% by ICCREA Holding and the remaining by Banca Finnat of the Nattino family. The Nattino family is also a main shareholder in Investire Immobiliare where the Benetton family is also a shareholder, the item noted.
Source Il Sole 24 Ore