BENI STABILI SPA BENI STABILI SPA SIIQ: MAJOR DISPOSAL OF A MATURE ASSET

Transparency directive : regulatory news

27/06/2017 17:35

Major disposal of a mature asset

Milan - 27 June 2017: Beni Stabili has signed today a binding agreement to sell
to Luxottica Group
S.p.A. an asset of 11,705 sqm of offices located in Milan via San Nicolao for
approx. EUR114.5 m. The price for the asset is above book value and implies a
net exit yield of 4.2% based on a residual lease maturity of approx. 4 years.

The building was acquired in 2002 in the context of a sale and lease back with
a leading Italian bank. It was then vacated in 2011 and completely refurbished
to highest market standard by Beni Stabili and promptly let to Luxottica. The
disposal completes the asset management cycle for the property allowing to
fully benefit of the positive momentum of Milan's real estate market.

This transaction, alongside the recent acquisition of a Milan focused portfolio
for EUR118 million and 6% yield (announced on June 6th), confirms the proactive
asset rotation strategy of Beni Stabili through the disposal of mature or
non-strategic assets and the reinvestment of the proceeds into new properties
featured by prime locations in Milan and interesting yields as well as value
creation perspectives.

The closing of the transaction is expected to take place by July 3rd, 2017.

The deal should be considered as a related party transaction, since Luxottica
Group S.p.A. is a company controlled by a Director of Beni Stabili Siiq.
Considering the value of the transaction, the deal represents a "transaction of
greater importance", according to the Company's Procedure and the relevant
applicable regulation on related parties transactions.

At the same time, given the nature of "ordinary transaction" of the deal
(according to the abovementioned Procedure and regulation), the Company applied
the relevant "case of exclusion" provided in the same regulation.

The proposal regarding the transaction was submitted to the Board of Directors
on May 3, 2017 and has been considered in line with the market.

For more information:

Beni Stabili Siiq

Investor Relations - Barbara Pivetta - +39.02.3666.4682 -
barbara.pivetta@benistabili.it
Media Contact - Barbara Ciocca - +39.02.3666.4695 -
barbara.ciocca@benistabili.it

SEC and partners Srl

Matteo Steinbach - +39.346.1063989 - steinbach@secrp.it
Michele Calcaterra - + 39.335.461985 - calcaterra@secrp.it

Beni Stabili Siiq, a leading property company in the Italian real estate sector

Beni Stabili is the leading property player in the Italian real estate market
with total assets of 4.0 bn euro. Our assets portfolio is sited in key
locations of North and Central Italy's major cities and consists mainly of
offices. We pursue the appreciation of our assets to increase profitability and
create value for our clients, partners and shareholders.

As a major player in office investment and development, we foster pioneering
solutions to improve the environmental performance of our buildings for the
well-being of our clients' employees. With this is mind we are developing in
Milan a new business area dedicated to smart working: Symbiosis.

Beni Stabili is listed on the Milan and Paris Stock Exchanges and operates
through its main offices of Milan and Rome. Beni Stabili belongs to the
Foncière des Régions group, a leading real estate player in Europe who owns
and manages an 19bn euro portfolio located in the most attractive metropolitan
cities of France, Germany and Italy

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21/12/2018 14:57

BENI STABILI SPA BENI STABILI SPA SIIQ: MAJOR DISPOSAL OF A MATURE ASSET

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