Pirelli RE's board has approved the definitive terms of the agreement to sell 20% of Pirelli & C. Credit Servicing, the group's NPL management arm, to DGAD International, part of Calyon. The operation is part of the previously announced plans to reduce the financial commitment to the business of non-performing loans, the company said. The closing of the transaction is expected by 30 June 2009.
Swiss real estate group Investis has boosted its real estate holdings with the CHF 139 mln (€149 mln) purchase of prime residential properties in Vaud canton.
