IGD SiiQ

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2000-2009

  • 2009
    2009
    2009: opening of four important shopping centers and the arrival of a new Chief Executive Officer

    At a time characterized by economic and financial crisis, IGD continues with its programmed investments and opens important new shopping centers: at the beginning of April the Tiburtino shopping center, just outside of Rome, was inaugurated and in May the Katanè shopping center in Gravina, near Catania, opened its doors. In June the shopping center Le Maioliche in Faenza was inaugurated and IGD acquired it the following October, while the last year opening is made just before Christmas, with the inauguration of the shopping center I Bricchi in Isola d'Asti.

    In Romania the strategy to stimulate and reconfigure the traffic in the Winmarkt Magazine centers is being implemented resulting in an agreement with Domo in the small appliances sector, followed by an agreement with Carrefour and MiniMax Discount in the food products sector.

    On 30 April Claudio Albertini became the new Chief Executive Officer; the new CEO inherits the Group from Filippo Carbonari who was at the helm for the last five years. The choice of Claudio Albertini, who already served as a Director of IGD as well as a manager of the UGF Group, reflects the desire to ensure continuity while also increasing the focus on IGD’s role as an aggregator and facilitator in the development of the cooperative segment within the real estate sector.

  • 2008
    2008
    2008: the acquisition in Romania and the transformation into a SIIQ

    In March 2008, IGD takes advantage of an important foreign investment opportunity and for €192 million acquires the company Win Magazin SA, which controls a real estate portfolio of 15 shopping centers in 14 different cities in Romania – a market with attractive consumer trends and interesting potential returns.

    Winmarkt is the only major retail chain in Romania: a channel which could become strategic for international operators interested in the emerging Romanian market. The fact that none of the Winmarkt’s shopping centers are located in the capital makes the chain that much more attractive as real estate valuations in Bucharest are in line with the largest European metropolitan areas while the other cities still offer opportunities with high returns.

    As of April 2008 IGD, the first reality in the Italian real estate sector, elects to exercise the option to be treated as a SIIQ – Società di Investimento Immobiliare Quotate (real estate investment trust).

  • 2007
    2007
    2007: RGD is formed; launch of a new three year investment plan

    In March 2007 RGD, Riqualificazione Grande Distribuzione, is born. The objective of this 50-50 joint venture between Beni Stabili and IGD is to enhance existing shopping centers, a segment which both partners believe has interesting prospects. The company’s initial assets, 2 shopping centers, had an estimated value of €113.2 million.

    As the 2005-2008 investment plan was completed a year in advance, in 2007 a new plan is launched which calls for investments of €800 million to be made over the next three years. In order to finance the new plan IGD launches a capital increase of approximately €98 million and issues a €230 million convertible bond.

  • 2005
    2005
    2005: IGD’s IPO sustains the company’s intense development process

    With a portfolio of 7 shopping centers, 5 hypermarkets and 1 super market, valued at €555.2 million at the end of July 2004, the Company makes its debut on the Italian Stock Exchange in February 2005 and undertakes a development plan which calls for investments of €810 million in the three year period 2005-2008.

  • 2000-2004
    2000-2004
    2000-2004: the two shareholders Coop Adriatica and Unicoop Tirreno give birth to and develop IGD

    In 2000 Coop Adriatica transfers part of its retail real estate assets to ESP which changes its name definitively to IGD - Immobiliare Grande Distribuzione. Further transfers are made in the following year.

    In 2003 Ipercoop Tirreno also becomes a shareholder of IGD through the transfer of the Afragola shopping center in Campania; subsequently Ipercoop Tirreno sells its share in IGD to Unicoop Tirreno (formerly Coop Toscana Lazio). Over the next two years IGD continues with the consolidation of the real estate assets belonging to Coop Adriatica and Unicoop Tirreno and purchases the shopping centers Roma Casilino and “Le fonti del Corallo”, near Livorno, from the latter.

    In 2004 IGD’s interest in Gescom, the company involved in the promotion and management of shopping malls, rises from the 60% controlling interest purchased beginning in 2002 to 100%.

    Over time IGD’s real estate portfolio reaches an interesting critical mass and the company develops extensive expertise in its specific businesses: the company is now ready for its debut on the stock exchange and to subsequently fund its future development.

 
 
 
 
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