SCM Holdings Limited acquires Les Cedres villa from Campari Group in French Riviera
SCM Holdings Limited investment company has announced the acquisition of a property from Campari Group, the Les Cedres villa, in the French Riviera (Cote d'Azur) in the Mediterranean Sea.
"The company sees the asset as a long-term investment," SCM said on its website without specifying the deal.
For SCM Holdings Limited, real estate is the key investment business in Europe and North America, as well as in mining and metallurgy, energy, media and transportation, the release notes.
According to the British publication FT, the transaction value is about EUR200 million. The Les Cedres mansion in Saint-Jean-Cap-Ferrat with an area of approximately 1,700 square meters was built in the nineteenth century and at the beginning of the twentieth century belonged to the king of Belgium Leopold II.
The Italian company acquired a 14-bedroom mansion on 14 hectares of land as part of its acquisition of Société des Produits Marnier Lapostolle in 2016.
Earlier estimates of the cost of the villa reached EUR350 million.
SCM Group is a professional investor, the managing company of the largest financial and industrial group of Ukraine, whose activities are concentrated in three main areas of business: mining, metallurgy, electricity and finance, as well as in telecommunications, media, real estate, retail, and production of mineral raw materials, trade in petroleum products, agriculture, engineering, and transport business.