Italy's Beni Stabili said on Wednesday that its board has approved a EUR 220 mln buy-back programme of the company's own shares. The Italian real estate group plans to purchase up to 191 million of its own shares in the coming 18 months. The company will buy back shares when their value is significantly lower than the Net Asset Value (NAV), Beni Stabili said in a statement.
As Ares completed a €325 mln French logistics acquisition from Blackstone, another French portfolio came onto the market.
