Entrepreneur Andrew Debattista Segond has transferred all of his shares in the Sicilian property development firm Bella Sicilia to his Maltese-registered Smartcare Group Investments Ltd (SGCI).

SCGI forms part of the Smartcare Group of Maltese-registered entities ultimately beneficially owned by Mr. Debattista Segond.

In 2023, Mr. Debattista Segona also set up an Italian company, Bella Sicilia, for the purpose of developing and selling high-end villas and apartments in Sicily

Among its notable projects are San Andrea Residences (18,000 sqm), La Laguna Resort (over 30,000 sqm), Spiaggia D'Oro featuring luxury seafront villas (20,000 sqm), Le Ville Del Borgho (over 100,000 sqm), and Borgho Zesira, a complex of four super villas on over 90,000 sqm, alongside various other luxury residences.

In a company announcement issued on 24th December, it was confirmed that Smartcare Group is being reorganised so as to incorporate Bella Sicilia.

With effect from 22nd December,  Mr Debattista Segond transferred all of his shares in Bella Sicilia to SCGI.

The consideration for the transfer of the entire issued share capital of Bella Sicilia to SCGI, consisted of the issue and allotment to Mr Debattista Segonf of 3,822,833 ordinary shares of a nominal value of €1 each in SCGI, issued at par.

As a result, Bella Sicilia has become a wholly owned subsidiary of SCGI and is now interposed within the Smartcare Group.