Banco Santander, S.A., Investment Arm completed the acquisition of additional 12.27% stake in Metrovacesa, S.A. from Banesto Banca Privada Gestión, S.A. S.G.I.I.C.
January 11, 2013 at 09:30 am IST
Share
Banco Santander, S.A., Investment Arm entered into an agreement to acquire additional 12.27% stake in Metrovacesa, S.A. (CATS:MVC) from Banesto Banca Privada Gestión, S.A. S.G.I.I.C. for approximately €280 million on December 19, 2012. Santander will acquire 121.21 million shares at €2.28 per share. After the acquisition, Banco Santander will hold 34.86% stake in Metrovacesa. In a related transaction Banco Santander, S.A., Investment Arm, BBVA Investment Arm, Banco de Sabadell, S.A., Investment Arm and Popular Gestión, S.A., S.G.I.I.C. made an offer to acquire 4.41% stake in Metrovacesa, S.A. (CATS:MVC) from Bankia, SA. (CATS:BKIA) and other shareholders for €92.6 million on December 19, 2012. The closing of the purchase by Santander of Banesto's stake in Metrovacesa will take place on the first business day following the date on which, following settlement of the tender offer, the shares of Metrovacesa have effectively been excluded from trading on the Spanish stock exchanges. The deal is subject to regulatory approval and delisting of Metrovacesa shares. Fernando Azofra, Javier Redonet, Alejandro Fernández de Oliveira, Jaime Tarrero and Fernando Ramos of Uría Menéndez Abogados, S.L.P. acted as legal advisor for Banco Santander. Hogan Lovells (Alicante) S.L. & CompaÑia Sociedad Colectiva acted as legal advisor for Metrovacesa.
Banco Santander, S.A., Investment Arm completed the acquisition of additional 12.27% stake in Metrovacesa, S.A. (CATS:MVC) from Banesto Banca Privada Gestión, S.A. S.G.I.I.C. on January 11, 2013.
Metrovacesa SA, formerly Metrovacesa Suelo y Promocion SA, is a Spain-based real estate developer. The Company specializes in construction and sale of sustainable housing, both single-family and multi-family residential properties. Its activities also include promotion, urbanization and parceling of real estate in general, as well as real estate management for own benefit or on behalf of third parties. Its asset portfolio includes more than 6 million square meters of building land across Spain, as well as already developed properties in cities, such as Malaga, Almeria, Cordoba, Barcelona and Madrid, among others.
Banco Santander, S.A., Investment Arm completed the acquisition of additional 12.27% stake in Metrovacesa, S.A. from Banesto Banca Privada Gestión, S.A. S.G.I.I.C.
METROVACESA S.A. 
