Kering SA entered into a binding agreement to acquire Milanese building on via Monte Napoleone 8 in Milan from Blackstone Property Partners Europe Holdings S.à r.l. for approximately ?1.3 billion.
April 03, 2024
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Kering SA (ENXTPA:KER) entered into a binding agreement to acquire Milanese building on via Monte Napoleone 8 in Milan from Blackstone Property Partners Europe Holdings S.à r.l. for approximately ?1.3 billion on April 4, 2024. This investment is part of Kering?s selective real estate strategy, aimed at securing key highly desirable locations for its Houses. The transaction is expected to close by July 2024.
BPPEH and its subsidiaries were advised by BNP Paribas, Barclays Bank plc, Eastdil Secured, J.P. Morgan Securities plc, RBC Capital Markets and SMBC Nikko Capital Markets Limited (Financial Advisors); Kryalos SGR (Real Estate Advisor); Simpson Thacher & Bartlett and PedersoliGattai (Legal Advisors); and PwC (Tax / Financial Advisor)(Accountant). Blackstone Property Partners Europe Holdings (BPPEH) was assisted in the transaction by Kryalos Sgr as advisor and Kering was followed by Lazard. Umberto Borzi, Giuseppe Andrea Giannantonio, Paolo Fedele and Giulia Bighignoli of Chiomenti and Frédéric Nouel and Laurent Modave and Counsel Pierre-Adrien Vibert of Gide have together advised Kering on the acquisition.
A global Luxury group, Kering manages the development of a series of renowned Houses in Fashion, Leather Goods, and Jewelry: Gucci, Saint Laurent, Bottega Veneta, Balenciaga, Alexander McQueen, Brioni, Boucheron, Pomellato, Dodo, Qeelin, Ginori 1735, as well as Kering Eyewear and Kering Beauté.
By placing creativity at the heart of its strategy, Kering enables its Houses to set new limits in terms of their creative expression while crafting tomorrow's Luxury in a sustainable and responsible way. It captures these beliefs in its signature: Empowering Imagination.
In 2023, Kering had 48,964 employees and restated revenue of EUR 19.6 billion.
At the end of 2023, the Group had a network of 1,771 stores under its own management, located primarily in Western Europe (367), North America (316), Japan (238), and in emerging countries (698).
Net sales are distributed geographically as follows: Western Europe (27.6%), Japan (7.2%), Asia/Pacific (35%), North America (23%) and other (7.2%).
Kering SA entered into a binding agreement to acquire Milanese building on via Monte Napoleone 8 in Milan from Blackstone Property Partners Europe Holdings S.à r.l. for approximately ?1.3 billion.
KERING 
