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.
Pan-European investor Bowery and real estate investor Alba join forces to acquire their first last-mile logistics asset in the Netherlands.
