Soros' fund buys 5 pct of Italian shopping centre group

MILAN, March 3 Mon Mar 3, 2014 2:53am EST

MILAN, March 3 (Reuters) - An investment fund managed by Soros Fund Management of billionaire financier George Soros has bought around 5 percent of Italian shopping centre group Immobiliare Grande Distribuzione (IGD), the company said in a statement.

Fund Quantum Strategic Partners has bought about 3.15 percent of IGD from the company itself and the rest from its second-largest shareholder Unicoop Tirreno.

IGD develops and manages shopping centres in Italy and has a significant presence in Romania's retail distribution.