Kering SA (ENXTPA:KER) entered into a binding agreement to acquire Milanese building on via Monte Napoleone 8 in Milan from Blackstone Property Partners Europe Holdings S.à r.l. for approximately ?1.3 billion on April 4, 2024. This investment is part of Kering?s selective real estate strategy, aimed at securing key highly desirable locations for its Houses. The transaction is expected to close by July 2024.

BPPEH and its subsidiaries were advised by BNP Paribas, Barclays Bank plc, Eastdil Secured, J.P. Morgan Securities plc, RBC Capital Markets and SMBC Nikko Capital Markets Limited (Financial Advisors); Kryalos SGR (Real Estate Advisor); Simpson Thacher & Bartlett and PedersoliGattai (Legal Advisors); and PwC (Tax / Financial Advisor)(Accountant). Blackstone Property Partners Europe Holdings (BPPEH) was assisted in the transaction by Kryalos Sgr as advisor and Lazard acted as financial advisor to Kering. Umberto Borzi, Giuseppe Andrea Giannantonio, Paolo Fedele and Giulia Bighignoli of Chiomenti and Frédéric Nouel and Laurent Modave and Counsel Pierre-Adrien Vibert of Gide have together acted as legal advisor to Kering on the acquisition.