UniCredit Real Estate SCpA ( "URE") has concluded an agreement for the sale of 3,200 shares held in Omicron Plus Real Estate Fund ( "Fund Omicron Plus"), operated by Italian Real Estate Funds SGR SpA (Fimit "), a company linked to GIC Real Estate (" GIC RE "), the real estate division of the Government of Singapore Investment Corporation, for a total consideration of approximately 78 million euros.On 30 December 2008, had concluded the URE Omicron Plus Fund contribution to a portfolio of 72 properties instrumental for a total value of around 800 million Euro, against which were issued subsequently placed shares with qualified investors and partially owned by the same URE.
The sale of shares to GIC RE URE allows complete transfer of all the shares in the fund after the contribution Omicron Plus in December 2008 with a positive impact of about 3.5 basis points on the Core Tier 1 ratio for the Group and a gain of about 163 million euros in 2009 (including approximately 131 million euros in the third quarter of 2009) net of tax effects and transaction costs, in addition to 282 million euros already made in 2008.
Also today, consistent with the objectives of rationalization of real estate assets of the Group, URE made the contribution of an additional portfolio, consisting of 179 properties with a total value of equipment to receive about 530 million euros in the same Fund Omicron Plus, against which they were issued new shares which are expected to be placed with qualified investors identified by Fimit by May 2010.
The properties covered by the second intake will be fully leased by the Group leases lasting 18 years, renewable for 6 years, with features that allow the group the necessary flexibility in managing its commercial network. Financial Advisor transaction is UniCredit Corporate & Investment Banking UniCredit Group and to Leonardo & Co. Fimit. BNP Paribas Corporate Finance acted as placement agent for the transaction. Advisor Legal Law Firm of the operation are Gianni Origoni Grippo & Partners to UniCredit Group, Studio Legale Grimaldi e Associati for Fimit, Studio Legale Chiomenti GIC, while the lenders were assisted by Legance Law Firm Associate.
The sale of shares to GIC RE URE allows complete transfer of all the shares in the fund after the contribution Omicron Plus in December 2008 with a positive impact of about 3.5 basis points on the Core Tier 1 ratio for the Group and a gain of about 163 million euros in 2009 (including approximately 131 million euros in the third quarter of 2009) net of tax effects and transaction costs, in addition to 282 million euros already made in 2008.
Also today, consistent with the objectives of rationalization of real estate assets of the Group, URE made the contribution of an additional portfolio, consisting of 179 properties with a total value of equipment to receive about 530 million euros in the same Fund Omicron Plus, against which they were issued new shares which are expected to be placed with qualified investors identified by Fimit by May 2010.
The properties covered by the second intake will be fully leased by the Group leases lasting 18 years, renewable for 6 years, with features that allow the group the necessary flexibility in managing its commercial network. Financial Advisor transaction is UniCredit Corporate & Investment Banking UniCredit Group and to Leonardo & Co. Fimit. BNP Paribas Corporate Finance acted as placement agent for the transaction. Advisor Legal Law Firm of the operation are Gianni Origoni Grippo & Partners to UniCredit Group, Studio Legale Grimaldi e Associati for Fimit, Studio Legale Chiomenti GIC, while the lenders were assisted by Legance Law Firm Associate.
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