Merope S.R.L. signed a binding agreement to acquire Non-instrumental real-estate complex in Milan from CIR S.p.A. - Compagnie Industriali Riunite (BIT:CIR) €38 million on December 22, 2022. From total amount, €5 million has been paid today as a deposit, while the remaining part will be paid when the transaction is completed. The deal will realize the value of a non-core asset of the Company, which is valued in the accounts at €11 million. The capital gain, net of transaction costs and before tax, will be approximately €26 million
and will be recognized on completion of the sale, which is subject to the fulfilment of certain conditions but is expected to take place by the end of 2023. CIR was assisted by Dils as advisor, as well as by Legance as legal advisor and Yard Reaas in the technical due diligence.