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3 years ago
Italy's IGD expects Soros fund to join 200 mln euro cash call
July 8, 2014 / 11:52 AM / 3 years ago

Italy's IGD expects Soros fund to join 200 mln euro cash call

MILAN, July 8 (Reuters) - Italian real estate investment trust IGD is confident the Soros Fund Management will participate in a planned capital increase of up to 200 million euros ($273 million), its CEO Claudio Albertini told Reuters on Tuesday.

Earlier on Tuesday IGD said it had approved the capital increase and the acquisition of a real estate portfolio worth around 95 million euros.

The company expects to complete the capital increase by October, it said.

"It's probable we (IGD and Soros Fund) will touch base before the cash call is launched and we'll try to convince them," Albertini said.

Soros Fund Management LLC currently owns a 5 percent stake in IGD.

Albertini also said IGD may upwardly revise business targets to 2016 following the cash call and the real estate acquisition.

He said the group would continue to offer a high dividend payout.

$1 = 0.7331 Euros Reporting by Claudia Cristoferi, Writing by Oleg Vukmanovic

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