Starwood Capital Group Management, L.L.C., Sixth Street Partners, LLC and Prelios SGR SpA entered into a preliminary agreement to acquire Real estate portfolio of 13 assets from Immobiliare Grande Distribuzione SIIQ S.p.A. (BIT:IGD) for approximately ?258 million on February 23, 2024. The portfolio is made up of 8 hypermarkets located in Chioggia, Porto d?Ascoli, Rome, Rimini, Conegliano, Ascoli Piceno and 2 in Bologna, 3 supermarkets located in Civita Castellana, Ravenna and Rome and 2 shopping malls which are located in Bologna and Chioggia. The assets generate a net rental income of ?17 million per year. IGD will collect approximately 155 million euros from the sale for the sale of the shares at the time of closing. In this regard, it is specified that the completion of the transaction is not subject to obtaining financing or other conditions precedent. The assets will be transferred through the fund, named the ?Food Fund?; 60% of the fund will be held by a Luxembourg-based vehicle (with Sixth Street and Starwood owning 50% each), while the remaining 40% will be held by IGD. Will Bryant and Chris Agnoli of Ropes & Gray International LLP acted as legal advisor to Sixth Street; and Emanuela Molinaro, Francesca Giammarino and Luigi Toscano of Studio Legale Associato in Association with Simmons & Simmons acted as legal advisor to Immobiliare Grande Distribuzione SIIQ S.p.A.

Starwood Capital Group Management, L.L.C., Sixth Street Partners, LLC and Prelios SGR SpA completed the acquisition of Real estate portfolio of 13 assets from Immobiliare Grande Distribuzione SIIQ S.p.A. (BIT:IGD) on
April 23, 2024. On the same day, IGD SIIQ S.p.A (?IGD?) announces the definitive contract, in execution of the preliminary agreement, was signed with Sixth Street and controlled affiliates of Starwood Capital and Prelios SGR S.p.A. The transaction involves the sale, by IGD, of a real estate portfolio for ?258 million, consistent with the appraised value as at 31 December 2023. The proceeds of the transaction shall be used by IGD in order to: (i) partially redeem the ??310,006,000 Fixed Rate Step-up Notes due 17 May 2027? issued on 17 November 2023, for an amount equal to ?90 million, reducing the outstanding nominal value from ?310 million to ?220 million; (ii) make a partial early repayment of the ?250 million green secured loan and (iii) make a partial early repayment of the ?215 million green unsecured loan signed in August 2022 of ?0.71 million. IGD also signed a contract with Prelios SGR to continue to manage the project, property & facility management activities across the entire portfolio with a view to further enhancing the portfolio over the next few years and selling it on the market at the best conditions possible. IGD will also see benefit for approximately ?2 million annualized from higher project, property & facility management revenue and lower operating costs.