The Ecclesiastical organization Provincia Lombardo Veneta – Fatebenefratelli sold to real estate fund Antirion Aesculapius the real estate asset that houses the San Giuseppe Hospital in Milan for a total consideration of 85 million euro.
The complex, located in the historic center of Milan, a few meters from Piazza Sant’Ambrogio, is structured around the main building built in 1874 and consists of ten buildings adjacent and communicating with each other, for a total area of ??35,000 square meters.
The hospital business was excluded from the scope of the transaction, and it will continue to be managed by a leading Italian player.
Concurrently with the sale of the property, Fatebenefratelli has entered with lending banks into an agreement to restructure its financial debt, amounting to approx. 200 mln euro.
“This transaction represents an important step forward the rationalization and the strengthen of the capital structure of Fatebenefratelli which is – said Andrea Belloli, General Manager – one of the leading Italian religious organization active for over 400 years in healthcare, as a result of the recognition of Ecclesiastical organization made by Pope San Pio V, on the 1 January 1571 “.
Fatebenefratelli was assisted by Vitale & Co Spa as a financial advisor.