Plans to resume dividend payments (Il Sole 24 Ore Radiocor) - Milan, 04 Jul - IGD, an Italian operator of shopping centers, said that in 2025-2027 it plans raising 100-120 million euros from disposals.

The company said that it plans to sell its Romanian portfolio and three plots of land still to be developed which are part of the Porta a Mare Project in Livorno, Italy.

The disposals will be aimed primarily at reducing debt. The group added that it also intends to "look into an asset rotation strategy in order to maintain its size and ability to generate cash flow." IGD said that it has started consultations for a possible early refinancing of its next debt maturities, mainly scheduled in 2027, "to have repayments better spread out over time and less concentrated, as well as more consistent with the expected cash flows." The group said that its overall strategic goal is "to create the conditions to become one of the leading active players in the European retail real estate market." The business plan also aims to return to dividend distribution, it added.

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(RADIOCOR) 04-07-24 19:14:07 (0607) 5 NNNN