Vitruvio Finalises the Absorption of Fidelges

3 January 2020 – Eje Prime

Vitruvio, the Socimi led by Joaquín López-Chicheri has convened an extraordinary general shareholders’ meeting on 5 February to approve the merger by absorption of the real estate company Fidelges.

Last September, Vitruvio reached an agreement to acquire 35% of Fidelges’ shares for €6 million. If that operation is approved by the Socimi’s shareholders next month, it will result in the absorption of the company.

Fidelges has a real estate portfolio worth €21.4 million, which will increase Vitruvio’s asset portfolio to more than €180 million.

Original story: Eje Prime 

Translation/Summary: Carmel Drake

Vitruvio Invests €16.5 Million in Three Buildings in Central Madrid

9 October 2019 The firm Vitruvio announced that it had acquired 35% of Fidelges S.L. for €6 million. Also, the company stated that it would propose a merger by absorption with the latter firm. The deal, valued at a total of 16.5 million euros, will allow Vitruvio to acquire three properties in central Madrid at an average cost per square meter of €2,700.

The three properties are located in prime areas of Madrid, at Calle Duque de Rivas 4, Calle Aguirre 1 and Calle Tribulete 23. The buildings will undergo an investment of €4.5 million in upgrades and renovations to convert them into residential developments.

Original Story: Idealista

Adaptation/Translation: Richard D. K. Turner