Beni Stabili could invest up to EUR 1 bn for acquisitions as it is actively looking for new opportunities in the property sector, ceo Aldo Mazzocco has told analysts. Mazzocco said that the debt-equity ratio of the group will remain at a good level during this anticipated acquisition spree. The Rome-based listed property company is already competing for properties being sold off by state-holding company Fintecna and analysts believe that acquisition opportunities will largely come from the real estate being sold off by the Italian government.
Beni Stabili could invest up to EUR 1 bn for acquisitions as it is actively looking for new opportunities in the property sector, ceo Aldo Mazzocco has told analysts. Mazzocco said that the debt-equity ratio of the group will remain at a good level during this anticipated acquisition spree. The Rome-based listed property company is already competing for properties being sold off by state-holding company Fintecna and analysts believe that acquisition opportunities will largely come from the real estate being sold off by the Italian government.
The future strategy of Italy's second largest property group will also depend on the business plan to be prepared by Fonciere des Regions, France's fourth-biggest real investment trust (SIIC), which last month offered EUR 2.6 bn in stock to acquire Beni Stabili. Leonardo Del Vecchio, Beni Stabili controlling shareholder, has agreed to tender his 35% stake in the offer slated for July and he will be the largest single shareholder in the combined group.
