Italy's Pirelli RE has said it will focus on consolidating its German business this year. It will also seek more investment opportunities in Bulgaria and Romania, while targeting further developments in Poland. The Italian real estate giant plans to increase its EUR 15 bn in assets under management in Germany, Italy, Poland, Bulgaria and Romania. The company also said it is seeking to lower the average stake it holds in joint ventures across Europe to about 20% in the long run, from 37% at present.
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