Italy's Beni Stabili said on Wednesday that its board has approved a EUR 220 mln buy-back programme of the company's own shares. The Italian real estate group plans to purchase up to 191 million of its own shares in the coming 18 months. The company will buy back shares when their value is significantly lower than the Net Asset Value (NAV), Beni Stabili said in a statement.
Italy's Beni Stabili said on Wednesday that its board has approved a EUR 220 mln buy-back programme of the company's own shares. The Italian real estate group plans to purchase up to 191 million of its own shares in the coming 18 months. The company will buy back shares when their value is significantly lower than the Net Asset Value (NAV), Beni Stabili said in a statement.
In addition, Beni Stabili's board approved the merger of the group with its own units Sviluppi Immobiliari, Beni Stabili Immobiliare Garibaldi and Torino Zerocinque Investment. The move comes as part of a major restructuring of the group's investments and assets.
