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Prelios Group shifts focus to asset management and real estate services

Prelios SpA finalized the transfer of its investments business sector to a special-purpose vehicle and is now primarily providing asset management and real estate services, with its restructured focus as a "pure management company."

The company concluded the requisite capital increase and transferred most of the group's total debt to Focus Investments SpA.

The spinoff, dubbed Project Centauro, generated a cash inflow of approximately €194.1 million and improved the company's bottom line to a loss of €6.5 million as of Dec. 31, 2016, up from the €184.9 million in losses incurred a year before.