MPS Group: agreement signed with Ardian for the sale of real estate portfolio
Siena, 28 February 2020 – At the end of a competitive procedure started in July 2019 and completed with a period of exclusivity granted to Ardian on 10 February, Banca Monte dei Paschi di Siena (BMPS) and Ardian have signed an agreement for the sale of a real estate portfolio of owned by the MPS Group.
The agreement relates to the sale of a portfolio consisting of 28 properties located in 9 regions of Italy.
Over the next few weeks BMPS and Ardian will enter into a preliminary purchase agreement, which will precede the completion of the sale expected for most of the properties by the second half of 2020.
This transaction represents a further step forward in the implementation of BMPS' 2017-2021 Restructuring Plan, which provides, among the formal commitments undertaken with the European Commission (in particular Commitment no. 17), the sale of properties within the period covered by the Plan.
BMPS was assisted in the transaction by Duff & Phelps as real estate advisor, by Legance and by the FRM Tax Law Firm.