Agreement with COIMA to unlock value of Group's real estate assets

The image accompanying the News on the agreement with Coima to enhance the Group's real estate assets portrays some people in formal work clothes, around the table of a meeting room, in the act of exchanging a handshake

Intesa Sanpaolo signed an agreement with COIMA to unlock value of the Group's real estate assets.

More specifically, the agreement provides for the contribution of a real estate portfolio of the Bank worth over €500 million to investment vehicles managed by COIMA SGR. Intesa Sanpaolo will receive shares in the COIMA vehicles.

The transaction will significantly reduce Intesa Sanpaolo's real estate assets. The Bank is studying additional areas of collaboration in real estate that could generate business opportunities of mutual interest.

The agreement signed with COIMA concerns properties located in several cities, including Milan, Turin, Rome, Brescia, Bergamo, Bologna, Padua and Florence, and is part of the Group's broader Smart Property Management strategy, as set out in the 2022 - 2025 Business Plan presented by CEO Carlo Messina.

Completion of the transaction is subject to the fulfilment of certain conditions precedent.

Last updated 6 May 2024 at 13:33:59