Italian property group Pirelli Real Estate is targeting the sale of EUR 1 bn of assets this year as part of a plan to restructure its business, news agency Radiocor has reported, quoting chairman M. Tronchetti Provera. The Milan-based property group, which last week unveiled a EUR 15 mln operating loss for the first quarter, has already signed preliminary agreements for the disposal of EUR 290 mln of assets, and has received non binding offers for a futher EUR 180 mln of property.
Italian property group Pirelli Real Estate is targeting the sale of EUR 1 bn of assets this year as part of a plan to restructure its business, news agency Radiocor has reported, quoting chairman M. Tronchetti Provera. The Milan-based property group, which last week unveiled a EUR 15 mln operating loss for the first quarter, has already signed preliminary agreements for the disposal of EUR 290 mln of assets, and has received non binding offers for a futher EUR 180 mln of property.
In a statement announcing its first-quarter results last week, the company said it sold assets for a total of EUR 175 mln in the first quarter of the year.
