Italian listed property firm Prelios has confirmed that it is in negotiations to sell its German property services arm through a bidding process.
Italian listed property firm Prelios has confirmed that it is in negotiations to sell its German property services arm through a bidding process.
In a statement, Prelios said that potential buyers for the German activities include Bilfinger & Berger, which is also interested in acquiring minority stakes in some of the group's services units in Italy, understood to be Prelios Property Management, Prelios Agency and Valuations, as well as in its fund management arm, Prelios Sgr.
'The terms have not been defined yet and it is not possible at this stage to provide any indications,' the Milan-based firm said. The Italian press put the volume of the transaction at around EUR 200 mln.
Banca Imi and Lazard are advising on the sale.
