Zambal Approves Merger with Iberia Nora & Completes €80M Capital Increase

12 September 2018 – Eje Prime

Zambal has approved its merger with Iberia Nora and has given the green light to its capital increase. Following the General Shareholders’ Meeting, the company managed by IBA Capital has notified the Alternative Investment Market (MAB) that it is going to carry out its integration with the other Socimi, which specialises in the rental of real estate assets.

In addition, Zambal has confirmed the €80 million capital increase that it announced in July. It will conduct it through the issue of 80 million shares with a nominal value of €1 and an issue premium of €0.25, which “will be fully subscribed and paid up through the compensation of loans”.

The capital increase has been fully subscribed by the Socimi’s majority shareholder, Altaya, headquartered in Singapore, which owns 95.21% of the share capital. Of the remaining 4.79%, 4.40% corresponds to Loire Investments Pte. Ltd, also domiciled in Singapore and 0.39% is treasury stock.

The Socimi, which started life in 2013, is an investment vehicle managed externally by IBA Capital Partners. The company specialises in the investment, and subsequent management, of offices and retail assets in cities such as Madrid and Barcelona, although the company also considers other assets such as nursing homes for the elderly, hospitals, retail parks and logistics platforms.

In a recent operation, Zambal purchased two office buildings on Calle Albarracín in Madrid, leased to the French multi-national firm Atos. That operation involved an investment of €38 million.

Without resorting to bank financing, Zambal has constructed a portfolio worth more than €730 million. Some of the company’s other main assets include, for example, the property at number 77 Avenida San Luis (which is home to Gas Natural’s headquarters in Madrid); the Edificio Vodafone, on Avenida de América; and the building at number 118 Avenida Burgos, which is leased in its entirety to BMW.

Original story: Eje Prime

Translation: Carmel Drake

IBA’s Socimi Zambal to Complete €80M Capital Increase

30 July 2018 – Eje Prime

Just over a year after expanding its share capital by more than €91 million, Zambal is preparing to undertake a new operation. The Socimi managed by IBA Capital has convened its shareholders for a General Meeting in September to carry out a new capital increase, in this case, amounting to €80 million.

According to a statement filed by the company with the Alternative Investment Market (MAB), the capital increase will be undertaken through the issue of 80 million shares with a nominal value of €1 and an issue premium of €0.25, which “will be subscribed and fully paid up through the offsetting of loans”.

Without resorting to bank financing, Zambal has built a portfolio worth more than €730 million. The company’s main assets include, for example, the property at number 77 Avenida San Luis (which houses the headquarters of Gas Natural in Madrid); the Vodafone Building on Avenida de América, and number 18 Avenida de Burgos, which is leased in its entirety to BMW.

The Socimi, which started life in 2013, is an investment vehicle managed externally by IBA Capital Partners. The company specialises in the investment and subsequent management of assets in cities such as Madrid and Barcelona in the office and retail segments, although the company is also looking at other assets such as nursing homes, hospitals, retail parks and logistics platforms.

One of the most recent operations undertaken by Zambal was the purchase of two office buildings on Calle Albarracín in Madrid, which is leased to the French multi-national Atos. That operation involved an investment of €38 million.

Original story: Eje Prime 

Translation: Carmel Drake