Bastogi S.p.A. was founded in 1862 and is the oldest Italian company that is still in business to be listed on the Italian Stock Exchange.
In the 150 year since its foundation the company has undergone numerous transformations and its history has been intertwined with the industrial and economic development of our Country.
The company was founded in Turin on 18 September 1862 with the name “Società italiana per le strade ferrate meridionali” (Italian company for the southern railways) and an initial capital of 100 million lire, by count Pietro Bastogi (1808-1899), with the aim of exploiting the concession for the construction and management of the railway lines in the South of the Country.
The company “Società Strade Ferrate Meridionali” was listed on the Milan Stock Exchange and extended its railway activity by increasing the share capital and partially investing this in other businesses.
The State bought back and subsequently nationalised the railways. The company “Società italiana per le strade ferrate meridionali” was transformed into a holding company which invested in the electrical energy sector, property and construction companies, bonds and national and foreign government securities.
’20s - ’30s
After the First World War the company "Società italiana per le strade ferrate meridionali" overcame the difficult financial situation with government help. It was absorbed by I.R.I. (the Institute for Industrial Reconstruction) after the crash of 1929 and was reorganised and re-privatised in 1937.
’50s - ’60s
The company had a key role inItaly’s industrial history in those years. It increased its capital on numerous occasions and acquired important shareholdings, including in Montedison and Italcementi; its Board of Directors included some of the representatives of the main industrial groups of the Country.
In 1972 the company “Società italiana per le strade ferrate meridionali” was renamed Bastogi Finanziaria.
In 1978, following a merger with Istituto Romano dei Beni Stabili, it changed its name to Bastogi IRBS.
In 1983 with the purchase of 23% of the company, Italmobiliare became the main shareholder of Bastogi IRBS and began the sale process of the industrial shareholdings in order to focus the business on the property sector.
In 1986 SAPAM acquired a 58.4% share of Bastogi IRBS and the following year the name was changed to Bastogi.
In 1990 the Cabassi Group acquired 47% of the company and consolidated its presence in the property and services sectors.
On 21 March 1992 after forty years at the helm of the Group he had founded Giuseppe Cabassi passed away.
In 1994 Bastogi acquired 50.3% of Brioschi Finanziaria and alongside the traditional property business it added the conservation business, through the historic company Frigoriferi Milanesi, in which it acquired 83.11% of the share capital.
The company acquired Nuova Accademia, the management company of NABA – Nuova Accademia di Belle Arti (New Academy of Fine Arts) – ofMilan, which had been set up in 1980 by various artists of international renown.
The Frigoriferi Milanesi complex (1899) began a process of reconversion, which included structural works, in order to host the new range of integrated services for art which were to be developed with the Open Care brand. The refurbishment work also began on the Palazzo del Ghiaccio building (1923).
Following a reorganisation of the controlling shareholdings a Public Tender Offer was launched on circa 312 million Bastogi shares by Sintesi Spa, the holding company of the Cabassi Group. Following the Tender Offer, Sintesi owned 64% of Bastogi’s capital.
In June Bastogi commenced an entrepreneurial project for the management and development of the hotel business (H2C).
The Palazzo del Ghiaccio building reopened after the redevelopment works and became a polyfunctional structure for hosting events.
In June the proportional inverse spin-off of the company in favour of Brioschi Sviluppo Immobiliare became effective.
During the course of the year a redevelopment project commenced on the Frigoriferi Milanesi complex through the development of ventures, collaborations and activities dedicated to art and culture.
In December the entire shareholding in NABA - Nuova Accademia di Belle ArtiMilanwas sold to the Laureate Group.
After the sale of NABA – Nuova Accademia di Belle Arti, the Bastogi Group focused more prevalently on services for art, and continued the business of the Frigoriferi Milanesi and Palazzo del Ghiaccio, with the aim of transforming these into an important pole of cultural proposals and ventures.