IFIL - IFIL Group sells its stake in Turismo&ImmobiliareIFIL ImmobiliareMarch 26, 2007
IFIL has reached an agreement for the sale of its interest in Turismo&Immobiliare, the company which holds a 49% stake in Italia Turismo, the largest real estate operator in Italy in the tourism sector with important investments in the south of Italy.
According to the agreements, IFIL Group will sell to Gruppo Marcegaglia, Pirelli RE and Gabetti Property Solutions its 25% stake in Turismo&Immobiliare for € 5,2 million.
The sale will allow IFIL to focus on the most important objectives of its investment strategy.
The conclusion of the transaction, which is subject to the approval of the pertinent authorities, is expected to take place in June 2007.