Campari announces the sale of its building in Milan, Via Turati
Milan, July 18, 2003 - Campari announced the sale of its building in Via Filippo Turati, Milan to Morgan Stanley Eurozone Office Fund for a total value of about € 47 million.
The Company and its Italian subsidiaries will continue to have their headquartersat the above mentioned building, as a six-year lease agreement was simultaneously signed by the parties.
The transaction will result in a capital gain for Campari of about € 34 million, which will have a positive impact on consolidated accounts for the fiscal year 2003.
Exploiting the positive momentum of the real estate market, Campari is continuing its rationalisation plan involving its Italian facilities.
Among the other projects, the Group plans to build its new headquarters in the area currently occupied by the Sesto San Giovanni plant, to be closed in 2005.
The Campari Group
The Campari Group is the sixth player in the global spirits sector, trading in over 190 markets around the world with a leading position in the Italian and Brazilian markets and a strong presence in the USA, Germany and Switzerland. Following an intensive acquisition campaign undertaken over the last few years, the Group has an extensive portfolio that spans three business segments: spirits, wines and soft drinks. The Group's portfolio includes a combination of strong international brands, such as Campari, SKYY Vodka, Cynar and Cinzano and leading local brands, such as CampariSoda, Campari Mixx, Crodino, Sella & Mosca, Zedda Piras, Biancosarti, Lemonsoda, Oransoda and Pelmosoda in Italy, SKYY Blue in the United States, Ouzo 12 in Greece and in Germany, Dreher, Old Eight, Drury's and Liebfraumilch in Brazil and Gregson's in Uruguay.
The Group has 1,400 employees, and shares of the parent company Davide Campari-Milano S.p.A have been listed on the Milan stock exchange since July 2001.
FOR FURTHER INFORMATION:
- Chiara Garavini