Colony Capital makes offer for Italian property group Risanamento

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real estate_lrgInvestment firm Colony Capital and former CEO and founder of Risanamento Luigi Zunino have teamed up to make an offer for the Italian property business.

OUI , a unit 70 per cent owned by Colony and 30 per cent by Zunino, said it wants to buy shares in Risanamento from its creditor banks including Intesa Sanpaolo, Banco Popolare, UniCredit and Sistema Holding.

Intesa Sanpaolo is Risanamento’s largest shareholder with a 36 per cent stake.

Accoridng to Italian newspaper Il Sole 24 Ore, Colony Capital founder Tom Barrack was looking to buy Risanamento for €250m.

Colony’s previous investments in the sector included luxury hotel owner Smerelda Holding, which was sold to the Qatar Investment Authority in 2008.

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