Aedes Group's subsidiary Agora has acquired 85% of Unicenter, a shopping centre manager active in Northern Italy, for EUR 1.9 mln. The transaction price values Unicenter at EUR 2.2 mln. Unicenter specialises in the management of shopping centers, commercial parks and factory outlets. Unicenter was established in 1999 by Chairman Giovanni De Franceschi, who will retain a 15% stake, and Luca Rossi. Unicenter manages 27 shopping centers for a total of 319,000 m2, as well as 900 shops. The company has estimated total assets under management valued at EUR 500 mln.
Aedes Group's subsidiary Agora has acquired 85% of Unicenter, a shopping centre manager active in Northern Italy, for EUR 1.9 mln. The transaction price values Unicenter at EUR 2.2 mln. Unicenter specialises in the management of shopping centers, commercial parks and factory outlets. Unicenter was established in 1999 by Chairman Giovanni De Franceschi, who will retain a 15% stake, and Luca Rossi. Unicenter manages 27 shopping centers for a total of 319,000 m2, as well as 900 shops. The company has estimated total assets under management valued at EUR 500 mln.
Aedes said in a press release that following the acquisition it has become the fourth national operator specialised in shopping centers, with assets under management valued at EUR 1.3 bn. Unicenter is expected to merge with Agora by mid-2008.
