LONDON (ShareCast) - UK property and investment company Segro said on Friday that it has exchanged contracts to acquire 90% of Vailog Srl from its majority shareholder FBH Spa for £28.1m, subject to completion adjustments.
The deal will allow Segro to establish a strategic big box warehouse and operating platform in the north Italy's logistics market, with opportunities to grow additional scale through development.

Vailog is one of Italy's leading logistics real estate development companies and has an excellent track record, Segro said.

Segro's chief executive officer David Sleath said: "Northern Italy is one of the major Continental European logistics markets, benefiting from a strong manufacturing heritage and an affluent population."

"Segro has been active in the region for some time but the acquisition of Vailog provides an immediate logistics platform there. Together with the benefits of adding critical mass to our existing big box logistics presence in Paris, this acquisition provides significant future development opportunities," he added.

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