Merlin Hopes To Buy Saba Logística For €150M After The Summer

26 February 2016 – Expansión

Merlin expects to complete its purchase of Saba’s logistics assets after the summer. The Socimi, which is listed on the Ibex, signed a contract with the company led by Josep Martínez Vila, to enable its acquisition of the stake that the company, controlled by Criteria CaixaHolding, holds in assets in Cataluña, Sevilla, Álava and Lisbon, which cover a surface area of 389 hectares. The purchase price is expected to amount to around €150 million, including debt.

Saba already sold the 32% stake that it held in Cilsa to Merlin last October for €50 million. Cilsa is the company that operates the Logistics Activity Area (‘Zona de Actividades Logísticas’ or ZAL) in Barcelona. Cilsa announced yesterday that it will invest €30 million over the next year and a half in the development of 50,000 m2 of logistics space in Barcelona and El Prat. It will be its first investment of this kind since 2008.

Original story: Expansión (by A. Zanón)

Translation: Carmel Drake