Milan, 04 March 2014 – In relation to the news published on some print media, the Company specifies, also on the request of the market Authorities, that the management activities functional to complete the process for the disposition of the Olinda Fund assets are underway, compatibly with the Fund expiry date currently fixed for 31 December 2014, and in line with what has been already announced upon disclosure of the Fund annual report at 31 December 2013.
In this framework, beside ordinary sale activities, the Company is considering – also following reception of initial non-binding expressions of interest from potential third party investors - the opportunity to adopt other solutions for the improvement of all the Fund’s real estate assets. It should also be noted that at today’s date no specific advisory mandates have been assigned for any formal improvement procedure in the unitholders’ interests and no decision has been adopted on their launch.
Concurrently, the negotiations already started with the competent Institutions, aimed at verifying the possibility to extend the Fund duration and to amend the Fund By-Laws accordingly, are continuing.
After the activities and verifications underway are completed, the Company will evaluate the different options in the best interests of Olinda Fund unitholders. Any decision will be promptly disclosed to the market.