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| Icade to divest its Icade Italia subsidiary As part of a programme to divest its non-strategic activities, French property group Icade in January 2010 entered into exclusive negotiations with the Arcotecnica group, its technical partner in Italy over the past six years, with a view to divesting its Icade Italia subsidiary to the group. Icade Italia operates in the areas of property management (property and facility management), and reported turnover of approximately 5 million euros in 2009. Concluded today, this transaction is a demonstration of Icade's desire to guarantee its Italian clients continuity and quality of service by selecting for the takeover a local, independent player with recognised expertise who has been providing property services in the Italian market for more than 30 years. Following this divestment, "Icade Italia Spa" will be known as "Pryma Spa". Icade is a listed real-estate company, subsidiary of Caisse des Dépôts, which carries out business activities in property investment, development and related services in the offices, business parks, shopping centres, public healthcare amenities and housing sectors. write your comments about the article :: © 2010 Construction News :: home page |