February 28, 2020 / 2:45 PM / a month ago

Italy's Monte dei Paschi signs agreement with Ardian to sell property portfolio

MILANO, Feb 28 (Reuters) - Private equity firm Ardian has reached an agreement with Italian bank Monte dei Paschi to buy a property portfolio, at a price that a source indicated at almost 350 million euros ($380 million).

The portfolio includes 28 buildings, mainly offices, in Milan, Rome, Florence and Padua, Ardian said in a statement on Friday.

For most of the properties the closing is expected in the second half of the year.

The deal will bring Ardian’s total investment in Italian real estate market to around 1 billion euros. ($1 = 0.9201 euros) (Reporting by Elisa Anzolin)

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