(Alliance News) - Beghelli Spa announced Tuesday that an agreement for the sale of the Crespellano industrial complex with a leading real estate operator has been finalized. The proceeds of the agreement, amounting to EUR17.5 million, will be allocated as a priority to the repayment of the outstanding debt of the loan to the institute having a mortgage on the real estate and, by virtue of previous contractual agreements, to the repayment of the outstanding debt of a pooled loan, for an overall total principal amount of EUR5.2 million.

"This transaction is part of a broader plan of industrial revitalization, rationalization of the real estate portfolio and divestment of assets deemed non-strategic, resulting in a focus on core activities, also allowing a structural rebalancing of the group's financial position aimed at the commercial development already envisaged in the Plan, both in Italy and abroad," the company note reads.

Beghelli closed Tuesday's session in the green by 2.4 percent at EUR0.25 per share.

By Maurizio Carta, Alliance News reporter

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