Whitehall funds' offer for Berenice closed-end office fund comprises a put option on 30% of the fund in favour of Italy's Unione Generale Immobiliare (UGI), a company indirectly owned by Italian entrepreneur Francesco Gaetano Caltagirone. On the other hand, UGI has a call option on the same stake, Italy's Consob, the authority responsible for regulating the Italian securities market, said in a statement. The option can be exercised from the settlement date, or 27 July, for five working days.
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