Urbas Buys the Basque Construction Firm Murías with a €30M+ Injection

23 March 2020 – Brainsre.news

The acquisition has been carried out as part of a process to restructure the group to which Construcciones Murías belonged, by means of a €12 million cash injection obtained through a financing line.

The acquisition has been carried out as part of a process to restructure the group to which Construcciones Murías belonged, by means of a €12 million cash injection obtained through a financing line, granted with a corporate guarantee from Urbas Grupo Financiero.

In addition, some of the Urbas group’s land, worth €19 million, is being incorporated into Construcciones Murías’s own funds for residential development in the Corredor de Henares. “This operation does not compromise, but rather strengthens the Business Plan envisaged for Urbas for the period 2019-2022,” reported the company to the CNMV. It also assured the supervisor that it does not compromise its efforts to reduce its financial debt either.

Original Story: Brainsre.news

Translation/Summary: Carmel Drake

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