Dea Capital’s CEO Lorenzo Pellicioli has denied market rumours that the company had been put up for sale, confirming that real estate in particular remains a core business for the group.
‘There are no new investors arriving because DeA Capital […] is among the strategic activities of the De Agostini group and we are not for sale,’ Pelliccioli said. ‘Certainly, if an attractive offer arrived, we would evaluate it, as it should be the case for a group like ours, but there are no conditions for this to happen at present.’
Dea Capital, the asset management arm of Italian publishing group De Agostini, was rumoured to be studying a sale of the business earlier in March. The company currently manages around 760 buildings for a total real estate value of over €12 bn.
The company has been on a European expansion drive for the past couple of years, opening offices in some of Europe’s largest markets including Germany and France. Earlier this month, the firm’s German arm announced the launch of the UrbanMile Fund, a new European investment vehicle targeting a size of €700 mln.
Pellicioli, currently head of Dea Capital, is expected to hand over his role to Marco Sala in June and take on a role as chairman of the management board of De Agostini.
