ITS SEPARATION FROM PIRELLI & C.
ITALIAN STOCK EXCHANGE: LIST NAME TO CHANGE FROM OCTOBER 25TH
ONE OF THE PRINCIPAL REAL ESTATE MANAGERS IN ITALY AND IN EUROPE,
WITH APPROX. €15.6 BILLION1 IN ASSETS UNDER MANAGEMENT
Pirelli & C. Real Estate S.p.A. announces its change of name to "Prelios S.p.A." after completing its separation from Pirelli & C. (see today's press release issued by Pirelli & C.).
Borsa Italiana (the Italian stock exchange) will, therefore, change the company's official list name from October 25th, 2010.
Prelios ratifies the company's repositioning as a "pure asset management company", as stated in its business plan, and positions it, both in Italy and Europe, as one of the principal real estate management companies, with approximately €15.6 billion in assets under management, and a distinctive business model in which specialized services serve its property management and real estate enhancement activities. The Group, through its subsidiary Prelios SGR, is also leader in Italy's fund management market with some €6 billion in assets under management, most of which through 21 real estate funds.
The new brand
The new name of "Prelios S.p.A." was approved by shareholders in their meeting of July 15th, 2010. The new name blends the first three letters of "premium" with the word "helios", Greek for the sun. The new Prelios logo comprises lettering - specially developed for Prelios to communicate solidity and dynamism - combined with a symbol in the form of a "spark" significantly positioned in superscript. The simple and effective Prelios logo underscores how the company born out of Pirelli RE embraces and projects its inheritance towards the future. It represents the excellence, the expertise and the skills that have always been at the root of Pirelli RE’s ability to create value over time.
The consequent re-branding is an opportunity to affirm and consolidate the new brand's positioning in the real estate market, while aligning it to the model focused on real estate management.