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Changes for Benetton assets, and what future for Bulgari Rome?

Tuesday, 28 June 2022 12:12

Changes are on the horizon for the Benetton assets with a good part of the real estate in the family holding Edizione possibly changing hands.


The transaction, should it go through, would be the most substantial real estate deal of the year, revealed the daily Il Sole 24 Ore, according to which there are currently three unsolicited offers on the negotiating table, handled on behalf of the seller by Citi. 

A €1 billion-€1.5 billion investment 

€1 billion and €1.5 billion These are said to have come from the US giant Hines, Manfredi Catelli’s Coima and Apollo Global Management, which recently invested €842 million in Italy to acquire a maxi-package of ex-Enpam real estate, which was then resold for a third to Coima itself. The figures put on the plate would be between €1 billion and €1.5 billion from Hines and Apollo, while Coima would propose a merger agreement with Edizione Property.

The Benetton sales outlets would not be involved

The operation is part of Edizione's reorganisation launched with the arrival at the helm of Alessandro Benetton and concerns a large part of a total real estate portfolio worth an estimated €2 billion spread over 13 different countries. The Benetton sales outlets (approximately 50%-60% of the entire portfolio) would not be involved in the negotiations. 

The first Bulgari Hotel is scheduled for Rome

However among the assets would be prestigious properties such as the Roman palace in Piazza Augusto Imperatore, where the first Bulgari Capitoline is scheduled to open, as well as the Monaco and Grand Canal hotels in Venice. The sale would not be the only possible solution under consideration, as there would also be the division of the assets in equal parts to each of the four family branches belonging to Giuliana, Carlo, Gilberto and Luciano.

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