SEGRO PLC has announced that it is to acquire 90% of Vailog Srl for €39.6m (£28.1m). SEGRO say that the purchase will allow them to establish a strategic big box warehouse presence in the Northern Italian logistics market with opportunities to grow additional scale through development. Segro also say that Vailog has developed over 1.5 million sq m of logistics space in Italy, France and the Netherlands, and owns high quality logistics properties in Italy and France, together with a land bank (and options over land) principally in the major European logistics hubs of Milan, Bologna, Rome, Paris, Lyon and Arnhem in the Netherlands. Vailog’s portfolio reportedly contains 29,800 sq m of recently-completed big box warehouses in northern Italy, together with a 94,300 sq m pre-let warehouse currently under construction. SEGRO say that the deal should allow them to build a presence in Italy of approximately 500,000 sq m of assets under management within the next five years.
SGRO : SEGRO to acquire 90% of Vailog for €40m