First Atlantic Real Estate (FARE) and Fondi Immobiliari Italiani (FIMIT) are seeking to merge, to set up a new real estate asset management company, IPE reports. DeA Capital that owns 70% of FARE will have a 40.32% stake in the new company, while First IFIM Investment will own 20.98% stake.

The National Insurance Institute for Employees of the Public Administration, which owns 30.7% of FIMIT, will have an 18.33% stake. Massimo Caputi and Daniel Buaron, the current CEOs of the two merging companies, will be appointed to the board of directors and the executive committee of the new company.

Click here for the story from IPE.