• Transaction / Assets
    6.9% of Axiare
  • Seller
  • Buyer
  • € MM
    c. 100

HSBC Acquires 6.9% of Axiare for €100M in Midst of Colonial Takeover

12 January 2018 – Eje Prime

Axiare has yet another shareholder. The British bank HSBC has purchased 6.9% of the Madrilenian Socimi’s shares and has whereby joined the long list of international investors that have acquired stakes in the company since Colonial launched its takeover bid in November.

Specifically, the financial institution has acquired 5.51 million shares in Axiare, according to reports submitted by the company to Spain’s National Securities and Markets Commission (CNMV). According to market values, HSBC must have paid around €100 million for its stake.

Besides the British group, in recent months several other foreign funds have acquired stakes in the share capital of the company led by Luis López de Herrera-Oria including Syquant Capital, Sand Grove and Bank of America, amongst others.

It is worth highlighting that the bank took its decision to invest in the Socimi after the CNMV approved Colonial’s purchase of the company. Following that green light for the operation, the takeover is currently subject to an approval period, which ends on 29 January.

Colonial, led by Pere Viñolas, has offered €18.36 for each share in Axiare, which makes the takeover worth around €1 billion and which would result in the creation of a giant in the real estate sector. The new entity would threaten the throne of Merlin Properties as the real estate king in Spain.

Original story: Eje Prime

Translation: Carmel Drake