Fondazione Fiera Milano Board of Directors traces next steps for Expo 2015

Milan, 16 July 2012 – During a meeting chaired by Fondazione Fiera Milano’s Deputy Vice Chairman Vittorio Bellotti, who took over from Chairman Gianpiero Cantoni after his premature and sudden death on 9 May, the Board of Directors passed a number of resolutions on the transfer of its areas for Expo 2015.
A decision was made, in particular, on the final steps to be taken to implement the resolutions on Fondazione’s joining of Arexpo S.p.A. and more in general Fondazione’s participation in the Expo 2015 project, with the relocation of the car parks and the completion of Fondazione’s credit guarantee for the sale of the land to Arexpo.

Adopting the resolutions made in 2012 under the chairmanship of Cantoni, the 158,214 sq.m. parcel of land was transferred for an overall sum of € 26,000,000. The Lombardy Regional Government and Milan City Council each have a 34.67% shareholding in Arexpo, Fondazione 27.66%, the Milan Provincial Government 2% and the Rho City Council 1%.

With a view to complying with the specific requests made by its members, the Fondazione Board of Directors also put the finishing touches to the forthcoming development of a public park in Rho, implementing the “Fiera” framework agreement.

“The team effort with Fondazione Fiera Milano working together with its Managing Director Corrado Peraboni and board member Roberto Vallini over recent weeks - said Vice Chairman Vittorio Bellotti – was driven by the same proactive and managerial spirit that Chairman Cantoni strongly promoted. Fondazione Fiera Milano has always been in the forefront to ensure Expo’s major success, which will fuel a major and necessary transformation and generate wealth not only for the city of Milan and the Lombardy region, but for the entire country. Mindful of this, Fondazione Fiera Milano has always done its very best to provide support every step of the way ever since Milan was assigned the Expo, while always pursuing its statutory obligations to preserve and enhance its heritage, and strictly in keeping with the principles of subsidiarity that have driven its every single action from the very beginning”.