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Financials

UK's Segro to sell six Italian warehouses in $150 mln deal

July 16 (Reuters) - UK’s Segro Plc said on Friday it had agreed to sell six of its warehouses in Italy to asset manager AXA IM Alts for 127.5 million euros ($150.49 million), as a pandemic-led e-commerce boom had boosted demand for such properties.

“We have chosen to capitalise on buoyant market conditions to sell this portfolio at a price materially ahead of December 2020 book value. We will be recycling the capital into exciting opportunities in other parts of Italy,” warehousing specialist Segro in a statement. ($1 = 0.8472 euros) (Reporting by Aby Jose Koilparambil in Bengaluru; Editing by Rashmi Aich)

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