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Covivio — M&A Activity 2020
Dec 23, 2020
1222_iss_2020-12-23_bf9e2032-6dbb-4179-908e-1c69cfa32477.pdf
M&A Activity
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Covivio has completed the sale to Fondo Thesaurus, managed by Kryalos SGR, of two office buildings in Milan, located in via Principe Amedeo, 5 and via Scarsellini, 14, for a total amount of €137 million, above the last appraisal value.
The first building, located in via Principe Amedeo near the metro station Turati, has been completely redeveloped by Covivio in 2018 and fully leased to multiple tenants, including the law firm Gattai, Minoli, Agostinelli & Partners.
The second building, in via Scarsellini, was built in 2010 and is located in the northern suburb of Milan, near the metro station Affori, with Aviva as main tenant.
"This transaction confirms the positive dynamics of the Milan market and marks the pursuit of our strategy through asset rotation: selling mature assets in the portfolio in order to reinvest profits in the development of new assets in strategic areas in the city of Milan" said Alexei Dal Pastro, CEO Italy of Covivio.
Press Relations Géraldine Lemoine Tél : + 33 (0)1 58 97 51 00 [email protected]
Laetitia Baudon Tél : + 33 (0)1 44 50 58 79 [email protected]
Investor Relations Paul Arkwright Tél : + 33 (0)1 58 97 51 85 [email protected]
Hugo Soussan Tél : + 33 (0)1 58 97 51 54 [email protected]
Thanks to its partnering history, its real estate expertise and its European culture, Covivio is inventing today's user experience and designing tomorrow's city.
A preferred real estate player at the European level, Covivio is close to its end users, capturing their aspirations, combining work, travel, living, and co-inventing vibrant spaces.
A benchmark in the European real estate market with 25 Bn€ in assets, Covivio offers support to companies, hotel brands and territories in their pursuit for attractiveness, transformation and responsible performance.
Build sustainable relationships and well-being, is the Covivio's Purpose who expresses its role as a responsible real estate operator to all its stakeholders: customers, shareholders and financial partners, internal teams, local authorities but also to future generations and the planet. Furthermore, its living, dynamic approach opens up exciting project and career prospects for its teams.
Covivio's shares are listed in the Euronext Paris A compartment (FR0000064578 - COV) and on the MTA market (Mercato Telematico Azionario) of the Milan stock exchange, are admitted to trading on the SRD, and are included in the composition of the MSCI, SBF 120, Euronext IEIF "SIIC France" and CAC Mid100 indices, in the "EPRA" and "GPR 250" benchmark European real estate indices, EPRA BPRs Gold Awards (financial + extra-financial), CDP (A-), 5 Star GRESB and in the ESG FTSE4 Good, DJSI W orld & Europe, Euronext Vigeo (World 120, Eurozone 120, Europe 120 and France 20), Euronext® CDP Environment France EW, ISS ESG, Ethibel and Gaïa ethical indices.
Notations solicited:
Financial part: BBB+ / Stable outlook by Standard and Poor's Extra-financial part: A1+ by Vigeo-Eiris