Vukile Goes Quiet After Reports of Takeover Bid for Lar España
31 October 2019 – On September 9, the Spanish daily Expansión published a report stating that the South African fund Vukile, which owns Castellana Properties, was preparing a takeover bid for Lar España. News of the more than €700-million bid led the socimi’s shares to soar by 10.29%, from 6.80 euros to 7.50 euros. Since then, however, Vukile has remained mum on the subject.
Lar España is an attractive asset, with a portfolio of fifteen shopping centres with close to 600,000 square meters of gross leasable area. The portfolio is worth approximately €1.5 billion and includes the Las Huertas shopping centres in Valladolid, Portal de la Marina (Benidorm), Ànecbalu (Castelldefells), Megapark Barakaldo, As Termas (Lugo) and the Lagoh in Seville.
Original Story: Merca2 – Javier Rosell
Adaptation/Translation: Richard D. K. Turner