The purchase proposal made by the former owner Luigi Zunino on two properties in Paris was accepted by the Board of Directors of Risanamento. The go-ahead is awaited from Chelsfield/The Olayan Group, which had entered into a purchase and sale agreement with the company on those assets and seven other French properties. The arrival of the yes from the English fund controlled by the Olayan group is expected by tomorrow, since the deadline for signing the preliminary contract signed in January has been extended to 9 April.
Coming from Zunino, from the holding companies in liquidation that are minority shareholders of Risanamento (Nuova Parva, Zunino Investimenti Italia, Tradim) and from Oui (another company founded by Zunino), the offer concerns the properties 17/19 Avenue Montaigne and 17 St. Florentin and contemplates "a context of global definition of the relationship between the bidders and the Risanamento group", reads a note.
“Without prejudice to the effectiveness of the agreements in place with Chelsfield/The Olayan Group, the board of directors, subject to the favorable opinion of the related party transactions committee, deemed the offer presented to be of interest to the company, also in order to speed up the execution of agreements already signed with Chelsfield/The Olayan Group,” the statement said. The condition is that by 8 April Chelsfield "gives its consent to modify the existing agreements for the purchase of the French portfolio to the extent necessary to allow the signing of the agreements with the bidders".
A source explains that the proposal by Zunino and his holdings values the two properties at almost 180 million euros, in line with the price offered by Chelsfield, and that the agreement with the property developer, owner of Risanamento until the pre-bankruptcy agreement of 2009 , also provides for its waiver of new legal actions.
The stock, which moved little in the morning, gradually warmed up after the news and around 16 pm it rose by 3% to 0,2197 euros.
