18/12/2014 – Expansion
Socimi (Spanish REIT vehicle) Hispania Real has officially presented in front of the Securities and Exchange Commission (CNMV) its takeover bid for Realia, offering 0.49 euros for each share. This intention was made public on November 21st.
To support its words, the Trust mananged by Azora presented two securities issued by Santander and CaixaBank worth 157.7 million euros to entirely cover the purchase of 100% of Realia.
However, Hispania Real assured the tender offer will be fully disembursed from its own funds. To achieve that, the Socimi called for an extraordinary meeting to take place on December 26th, when it will file for a capital hike.
Yesterday Realia’s stocks closed at 0.61 euros each, with a total capitalization of 187 million euros.
Original article: Expansión (by R. Ruiz)
Translation: AURA REE