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Italy's Risanamento sells Paris properties for 1.2 bn euros

Group to make 230 million euros from deal after paying debts

24 January, 13:04
Italy's Risanamento sells Paris properties for 1.2 bn euros (ANSA) - Milan, January 24 - Risanamento said Friday that it has agreed to sell a portfolio of nine properties in Paris to Britain's Chelsfield Partners LLP and the Saudi Arabian Olayan Group for 1.225 billion euros.

The Italian company said it will cash in 230 million euros from the deal when debt relating to the properties is paid.

Risanamento gained 7.95% to climb on the Milan stock exchange to 0.237 euros when the deal was announced.

The company said the sale should be closed following due diligence to be completed by the end of February.

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