Quantum Strategic Partners acquires overall 5% of IGD SIIQ’s
Italy’s real estate company IGD – Immobiliare Grande Distribuzione SIIQ S.p.A. has sold to Quantum Strategic Partners Ltd., a private investment fund managed by Soros Fund Management LLC, all of its 10,976,592 treasury shares, representing approximately 3.15% of the share capital.
At the same time, IGD’s second shareholder Unicoop Tirreno sold to Quantum SP 6,423,494 of IGD shares. The equity interest held by Unicoop Tirreno was consequently reduced from 14.9% to approximately 13.1%.
As a result, Quantum SP purchased a total of 17,400,086 IGD shares, representing 5% of the company’s share capital, and became the third largest shareholder of the company.
The sale of the treasury shares by IGD is in line with its 2014-2016 business plan, which was approved last December.
The closing of the transactions will take place within 5 March 2014, the company also said.
IGD’s legal advisor for the transaction was Chiomenti Studio Legale.