Slim acquires 24.9% of the real estate group Realia – The Economist

The Mexican magnate Carlos Slim bought by Carso, the share of 24.9% in the Spanish real estate group Realia Bankia by 44.48 million euros.

The Mexican magnate Carlos Slim bought by Carso, the Spanish bank Bankia participation of 24.9% that this entity has in the property group Realia amounting to 44.48 million euros (49 million dollars).

Bankia presented the information on this transaction to the Comisión Nacional del Mercado de Valores.

According with communication, Carso committed to developing, within nine months from the signing of the aforementioned purchase a tender offer (OPA) for the total Realia.

He explained that this would be for 100% of the shares in Realia at the same price the operation, ie, to 0.58 per share, which would bring the operation to 178 million euros (197 million dollars).

However, bearing in mind that there is a request for authorization made by Hispania Real Socimi, SAU to bid for 100% of the shares in Realia by a price below the price of the transaction, Carso will be required to submit the bid as competing offer within the time provided in the regulations for competing offers.

OPA shall be subject to the condition precedent in the execution of the purchase agreement, so that if at the end of the acceptance period of the tender offer such a condition is not met, the Offer will lapse.

announcement comes after last December, it was reported that Carso became the main shareholder in the Spanish Fomento de Construcciones y Contratas (FCC), a company which itself appears as the first shareholder of Realia with a share of 36.8 percent.

April