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Goldman Sachs & UBS Buy 9% of Hispania

26/03/2014 – Cinco Dias

Goldman Sachs and UBS acquired 9% of Hispania Activos Inmobiliarios´s stake. Multimillionaire George Soros has already bought a holding in the investment trust promoted by Azora for €50 million.

According to the information provided by the CNMV (the National Stock Exchange Commission), the two banks acquired 5 million new securities for €10 each (today the company concluded the session at €10.60).

If we consider the fact that on becoming listed Hispania originally issued 50 million securities, the additional 5 million shares raises the final offer to 55 million and this means that Goldman Sachs and UBS are now controlling 9% of the stake.

As Hispania´s underwriters, the banks had the right to execute the “greenshoe” option, an option that allows them to buy up to 10% of a company´s stake in order to smooth out price fluctuations.

The option will have been in force by 13th April but the allocating banks decided to execute it now as in the upcoming days, new share negotiations are to take place.

Hispania became listed on 14th March at price of €10.5 per share. (…)

 

 

Original article: Cinco Días

Translation: AURA REE