(Tiper Stock Exchange) – CIR – Compagnie Industriali Riunite – achieved a binding preliminary agreement with Meropea real estate investment and development company, for the sale of a non-instrumental real estate complex, located in Milan, for a total value of 38 million, of which 5 million paid today as a deposit, and the remainder to be paid on closing of the transaction.
The transaction enhances a non-core asset of the Company, the book value of which amounts to 11 million.
The property complex sold is currently used for residential, commercial and office use, and rented out to third parties.
The expected capital gain, net of transaction costs and before tax effects, is equal to approximately 26 million, and will be recorded at the time of closing of the transaction, expected – subject to the occurrence of certain conditions – approximately by the end of 2023 .
CIR was assisted by the advisor Dils, as well as by Legance as legal advisor and Yard Reaas in the technical due diligence.