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Stock market, Prelios soars: reorganization offers expire tomorrow

Title suspended due to excessive increases in Piazza Affari – According to the latest rumors, there are two parties involved: the American group Fortress and an Italian consortium made up of the former number one of Fimit, Massimo Caputi, and the Merloni family.

Stock market, Prelios soars: reorganization offers expire tomorrow

In Piazza Affari, all eyes are on Prelios shares, which are on the market at the end of the morning volatility auction with a theoretical increase of over 14 points, to 0,0902 euro. Tomorrow is the deadline for submitting offers for the reorganization of the real estate company and, according to the latest rumors, there are two parties involved: the American group Fortress and an Italian consortium made up of the former number one of Fimit, Massimo Caputi, and the Merloni family.

The US company would aim at a reserved capital increase to be subscribed for 50% in cash and for the rest through asset contribution. The Italian consortium, on the other hand, could pay 150 million euros in cash. 

The next Prelios Board of Directors is scheduled for August 28th. On the agenda, in addition to the half-yearly accounts, there will be the evaluation of the offers.

In case one of the negotiations goes well, the shareholders' meeting for the approval of the capital increase will be convened by November. The operation would be necessary since, according to forecasts, the six-month period should end with a loss of 120 million euro, penalized by property portfolio write-downs and restructuring costs.

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