A wide-ranging partnership to attack the real estate sector at a time of growth. This is what Dea Capital, De Agostini, DeA Capital Real Estate Sgr, CPI Property Group and the latter’s subsidiary, Nova Re Siq, stipulated yesterday.
CPIPG is a leading European property company, listed on the Frankfurt Stock Exchange, with a real estate portfolio valued at over 10 billion euros, while Nova RE is a real estate operator listed on the Italian Stock Exchange, with a property portfolio valued at around 120 million euros. euro at 31 December 2020.
In particular, the framework agreement provides that the parties to the agreement undertake to cooperate for the realization of a joint project aimed at the creation of a partnership in the Italian real estate market also through the assignment by Nova RE to DeA Capital RE of the role of advisor for the performance of some asset advisory services in favor of Nova RE.
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With the agreement for the acquisition of a stake in Nova RE, the strategic plan is defined, a project that will be developed by SIIQ on the basis of shared guidelines, which also provides for a share capital increase approved by the Nova RE administrative body. to increase the share capital for a maximum amount of 2 billion euros, “including any share premium, to be carried out also in divisible form, in one or more times, by the date of approval by the shareholders’ meeting of the financial statements as at 31 December 2023 »reads a note.
In particular, the framework agreement provides that Nova RE undertakes to carry out, as part of the delegated capital increase, a divisible capital increase for an initial amount up to 1 billion euro, including nominal value and any share premium, according to the terms and conditions that will be indicated in the new strategic plan. Plan to be approved by June 2022.