9 October 2019 – Quabit has finalised its acquisition of 82.9% of the share capital of Rayet Construcción, a construction company controlled by Félix Abánades, for 14.3 million euros. Quabit is thought to be taking control of the construction in response to tight demand and to guarantee the construction and delivery of its homes.
The president of Rayet, Félix Abánades, will thereby raise his stake in Quabit from 19.1% to 20.3%, as part of the payment will be made with shares in the developer. The rest of the payment will be made in cash.
Original Story: Valencia Plaza
Photo: Eva Máñez
Adaptation/Translation: Richard D. K. Turner