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Corio NV (AMS:COR) Corio and IKEA have reached an agreement on the acquisition of IKEA's store which is located in front of Corio's shopping centre Le Gru in Turin. IKEA will lease back the retail unit until their new store in Collegno will be completed and delivered, which is expected to be in May 2009. Thereafter Corio will redevelop the retail unit for new tenants with an expected opening in the first half of 2010. Shopping centre Le Gru is the dominant centre at a strategically strong location in the city of Turin. The acquisition of the IKEA store will enable Corio Italia to further strengthen Le Gru as retail destination.
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