Fininvest considers real-estate IPO

Article Abstract:

Fininvest Group, the holding company of media entrepreneur Silvio Berlusconi, is reviewing plans to hold a first national offering of its real estate properties. According to a report published in the daily financial newspaper Il Sole-24 Ore, the spinoff of the consolidated real estate holdings, which have assets amounting to about 1.5 trillion lire, will be configured as a real-estate investment trust. The process of structuring the combined realty units is being prepared by Vitale & Borghesi, an investment house based in Milan, Italy, and American Appraisal. If the IPO pushes through, Fininvest will join a number of Italian firms attempting to cash in on the value of real-estate assets during a revitalization of the industry.

Comment:

Is reviewing plans to hold a first national offering of its real estate properties

Article

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ENI may target Portuguese firm

Article Abstract:

ENI SpA announced that it is interested in acquiring a share of Gas e Petroleos de Portugal SGPS SA (GALP). The government of Portugal is expected to put 15% of GALP up for sale. GALP is a newly formed company. The government will then sell approximately 35% of the company in an initial public offering in 2000. ENI is planning to make a bid for GALP through its SNAM gas subsidiary.

Comment:

ENI interested in acquiring share of Gas e Petroleos de Portugal SGPS (GALP)

Foreign operations, Petroleum, Petroleum and Coal Products Manufacturing, Portugal, Planning, Petroleum industry, Abstract, Eni S.p.A., Gas e Petroleos de Portugal SGPS SA

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Fininvest SpA says profit may double in 1999

Article Abstract:

Fininvest SpA said that it is expecting to see its consolidated operating profit double for the 1999 year. Fininvest is a media company based in Italy. According to company vice president Marina Berlusconi, almost all of Fininvest's divisions are posting strong performances. In 1998, the company posted 478 billion lire (246.9 million euros).

Comment:

Expects to see consolidated operating profit double for the 1999 year

Sales, profits & dividends, Financial services industry, Finance, Financial services

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