Feltrinelli change course. The group has announced that it will focus on its core businesses (publishing and retail), thanks to the separation of the management of real estate assets and the assignment of the project Feltrinelli Porta Volta to a new joint fund in joint venture with Coima Sgr, the asset management company led by Manfredi Catella. Furthermore, Feltrinelli signed an agreement with the banks for the refinancing of the debt.
“In a moment of great uncertainty and continuous evolution among operators in the sector - said the president, Carlo Feltrinelli - the group aims to play the leading role in its next strategic plan by focusing on the development of retail formats, on new important publishing offers, on enhancing one's digital presence and above all on an integrated dialogue with all customers. The signing of today's agreement with the banks and the joint venture for the Feltrinelli Porta Volta project with one of the protagonists of the real estate market such as Coima Sgr, added to the improvement in 2015, form a solid basis from which to start for the future”.
The refinancing operation, which aims to make debt consistent with the needs of the individual business areas, involved a pool of banks (Intesa Sanpaolo, Unicredit, Bnl-Bnp Paribas, Creval and Bpm, with the coordination of Imi Bank).
In particular, the note explains, the disbursement of a mortgage line of 166 million euro over 10 years on real estate assets and a revolving line of 50 million euro over 5 years is envisaged to support the various core businesses of the group, with conditions better finances than the current ones.
