Pirelli RE to launch HVB bid

Carlo A. Puri Negri, managing director of Pirelli Real Estate, has confirmed rumours that the company intends to launch an offer for two property funds currently owned by Unicredito Italiano's German unit HypoVereinsbank (HVB). 'Pirelli RE will launch its offer for these property funds at the end of February or beginning of March', Negri said.

Carlo A. Puri Negri, managing director of Pirelli Real Estate, has confirmed rumours that the company intends to launch an offer for two property funds currently owned by Unicredito Italiano's German unit HypoVereinsbank (HVB). 'Pirelli RE will launch its offer for these property funds at the end of February or beginning of March', Negri said.

Last Sunday, the Italian newspaper IlSole24Ore reported in an article Pirelli RE may enter in the bidding for the two German funds, whose combined value is estimated to be about EUR 2.5 bn. 'We'll enter the race', said Negri, 'and we'll keep our fingers crossed'.

Pirelli RE is a property management company with 12 real estate funds with a total value of about EUR 6.7 bn.

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