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| Risanamento purchases the most prestigious property in Paris Risanamento Europe (100% owned by Risanamento S.p.A.) signed a final purchase agreement with Parholding for 100% of the share capital of Parelys, owner of a prestigious real-estate property in Paris. The value of the agreement is €68 million. Risanamento has also committed to repay the company's net financial debt amounting to €24 million, which raises the value of the property to approximately €92 million euro. Parholding is a joint-venture between SFL (Société Foncière Lyonnaise) – from which Risanamento has previously bought 6 properties – and Ile de France Investissements SA, the holding company owned by the Latsis family. The property is located in the 8th arrondissement, at 118 Avenue des Champs Elysées, the sunny side of one of the most important shopping streets in the world, at the crossroads with Avenue George V. The lease guarantees a rent worth about €4 million a year. The closing of the transaction is scheduled for 15 December 2006. write your comments about the article :: © 2006 Construction News :: home page |