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INTESA SANPAOLO TO EXTRACT GREATER VALUE FROM ITS NON-CORE REAL ESTATE ASSETS
 

Turin - Milan, October 14th 2014 – Intesa Sanpaolo has today entered into an agreement concerning the transfer of a portfolio of its non-core real estate assets, consisting of some 113 properties totalling approximately 115,000 square meters. The portfolio will be transferred to a newly created Italian real estate fund which is managed by IDeA FIMIT SGR. The quotas will be purchased by funds managed by Colony Capital LLC for a price of around €175 million.
 
The transaction is expected to be completed by the end of the year and will generate a positive contribution to the Intesa Sanpaolo Group’s consolidated net income of around €40 million.

 

Investor Relations
+39.02.87943180
investor.relations@intesasanpaolo.com

Media Relations
+39.02.87962326
stampa@intesasanpaolo.com


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