Segro is buying an Italian logistics developer for 鈧�39.6m (拢28.1m).
The UK-listed investor will take a 90% stake in Vailog from its majority shareholder, FBH.
The remaining 10% stake is retained by Eric V茅ron, co-founder of Vailog, who will remain managing director.
The deal, expected to complete by the end of next month, will add a team of 10 staff specialised in big box logistics development in northern Italy.
Vailog, founded in 2003, currently owns a 124,000 sqm portfolio of assets near Bologna and Milan, as well as a land bank of up to around 500,000 sqm.
The firm鈥檚 portfolio contains property assets valued at 鈧�104.8m.
David Sleath, SEGRO鈥檚 chief executive, said: 鈥淣orthern Italy is one of the major Continental European logistics markets, benefiting from a strong manufacturing heritage and an affluent population.
鈥淪EGRO has been active in the region for some time, but the acquisition of Vailog provides an immediate logistics platform there.鈥�
Vailog, which has developed more than 1.5m sqm of logistics in Italy, France and the Netherlands, is working with investors including Immobilien, and .
Segro said it sold the last of the six large non-strategic assets identified for disposal by the firm in 2011.
