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01 Dec 2025

White & Case and EY assist CTP in Italian market entry with €1 billion investment plan

"White & Case and EY advised CTP on its first entry into the Italian market through the acquisition of VLD from FBH Group for €241 million; Apollo & Associati advised FBH Group and VLD. The transaction launches CTP’s €1 billion five‑year Italian investment plan and supports its 30 million sqm by 2030 target."

White & Case and EY advised CTP, while Apollo & Associati advised FBH Group and the target company VLD. CTP, the Europe‑listed developer and manager of industrial and logistics real estate by leasable area, has entered the Italian market through the acquisition of VLD from FBH Group for €241 million. The purchase provides CTP with a significant portfolio of strategically located development land and marks the start of the group’s Italian expansion. The acquisition supports CTP’s objective to reach 30 million sqm of leasable area by 2030 and initiates a planned investment programme of €1 billion in Italy over the next five years. The deal provides an important development pipeline primarily in northern and central Italy and comes amid broad European expansion for CTP, whose business‑park model continues to gain market share. White & Case represented CTP with a team composed by: partners Giovanni Cirelli (Milan), Davide Cavazzana (Milan), Petr Pánek (Prague) and Karel Petržela (Prague); associates Camilla Zanetti (Milan) and Francesco Speciale (Milan) covering the M&A aspects; and partner Stefano Bellani (Milan) with associates Marco Cattani (Milan) and Giorgio Hassan (Milan) covering finance matters. EY Studio Legale Tributario represented CTP with a team composed by: partner Aurelio Pensabene; senior manager Marco Rosso; manager Giorgio Marchesi; seniors Silvia Matranga and Beatrice Nemini; and staff Martina Doni, handling tax due diligence and tax structuring. EY‑Parthenon also supported CTP on financial due diligence and technical and environmental due diligence. Apollo & Associati represented FBH Group and the target company VLD with a team composed by: Davide Ottavio Apollo (name partner and team coordinator), Beatrice Leonte, Alessandra Zuttioni and Salvatore Giorgi, who managed targeting, negotiations and the complex due diligence processes.
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