Segro acquires 90% stake in Vailog
Real estate investment trust Segro has completed the acquisition of a 90% stake in Italian logistics real estate development company Vailog Srl.
FTSE 250
19,373.88
15:45 19/04/24
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15:45 19/04/24
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SEGRO
846.40p
15:45 19/04/24
0.71%
6.00p
Late last month, the FTSE 250 group said it had agreed a £28.1m deal with FBH Spa, Vailog's majority stakeholder, which would see it establish a strategic big box warehouse and operating platform in the north Italy's logistics market.
“Northern Italy is one of the major Continental European logistics markets, benefiting from a strong manufacturing heritage and an affluent population," group chief executive David Sleath said in May.
Segro shares were up 1.35% to 420.00p at 15:49 on Tuesday.