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DEALS
International legal practice Norton Rose Studio Legale has assisted Corio, one of the largest listed retail property investment companies in Europe, on the agreement for the acquisition of an IKEA store in Turin. Under the terms of the agreement, IKEA will lease back the retail unit until a new IKEA store is completed and delivered, which is expected to be in May 2009. Thereafter, Corio will re-develop the retail unit for new tenants, with a grand opening expected in the first half of 2010. The store has a gross lettable area of 14,500 m2 and is situated in front of Le Gru shopping mall, Turin’s dominant mall which is owned and operated by Corio. Milan corporate finance partner Nicolò Juvara commented: "Our team in Milan has advised Corio on several other important ventures in Italy, including the purchase and development of Italy's largest shopping centre, Marcianise, located near Naples. We are pleased to have been involved in yet another successful transaction for Corio in Italy." The Norton Rose Studio Legale team was led by partner Nicolò Juvara, supported by associate Lucia Capotondi.
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