PRESS RELEASE- BasicNet: enhancement of the brands value through a new BasicVillage in Milan

Turin, August 5, 2019 - The BasicNet Group has reached an agreement with the stakeholders of Aprica Costruzioni S.r.l for the acquisition of the entire share capital of the company owning an industrial building covering approx. 4,000 square metres in Milan, Via dell'Aprica, 12. The complex - which is a post-industrial building dates back to 1911 - is located near the "Scalo Farini" area.

Through this investment, the BasicNet Group will gain a stable presence in Milan, acquiring suitable offices, showrooms and commercial spaces to present BasicNet's range, replicating the successful BasicVillage of Turin in a globally strategic location.

The closing of the transaction - to take place in the coming months for a value of Euro 10.5 million through BasicVillage SpA, a company controlling the Group's real estate assets - is subject to due diligence and contract finalisation.

The BasicNet Group's CEO, Federico Trono, stated regarding the transaction: "As indicated by the half- year results, the BasicNet Group continues to report solid and improving results, delivering on the brand development strategy. The purchase of the real estate complex in Milan will improve visibility and develop a strong direct commercial presence in a key sector market."

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BasicNet S.p.A. published this content on 05 August 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 05 August 2019 21:24:00 UTC