Immobiliare Grande Distribuzione SIIQ SpA's board approved a proposal to merge two of its wholly owned units, in order to streamline and simplify the group's corporate structure.

Under the plan, IGD PROPERTY SIINQ S.p.A. and PUNTA DI FERRO SIINQ S.p.A will be merged into a new entity called IGD SIIQ S.p.A. Immobiliare Grande said the combination of the two units' assets will result in "a single, more rational and economically viable corporate structure."