October 4 will be Judgment Day. Snam will be able to sum up its first round of real estate auctions and decide what the next moves will be disposal plan of 100 million euro. Supported by the advisor Gabetti, Snam has divided the brick to be sold into three categories: prestigious properties, significant properties and minor assets. Prestigious properties are offices with an income that is generally ensured by lease contracts still in progress.
There are no official rumors regarding the overall value of the first lot of properties for sale. According to MF-Milano Finanza, it would be an amount of around 40 million euros. The managing director Carlo Malacarne, based on what will happen on 4 October, will decide the timing and extent of the second round of auctions. The first rumors say that it will be put up for sale in an even larger lot (value 50 million euros). Among the buildings that will be put up for sale in the second tranche, there is the historic headquarters in Turin of Italgas and there should also be the only building in the entire package: the offices in Lisbon.
The 39 properties, whose deadlines for submitting expressions of interest and auction offers are about to expire, are controlled by Italgas, SnamReteGas and to a lesser extent by NapoletanaGas. According to MF-Milano Finanza, the building that appeals to the most potential buyers is the building in Largo Regio Parco in Turin. The property, located in a central area of the city and boasting an area of more than 11.400 square metres, is leased to Eni (former parent company of Snam) which has the offices of the Gas & Power division there.
