Neinor Homes Considers A Possible Integration With Vía Célere

Neinor Homes has confirmed that it is evaluating a possible integration operation related to Vía Célere, although no agreement has yet been reached and there is no certainty as to whether a decision will be taken.

The National Securities Market Commission (CNMV) suspended this morning in a precautionary manner and with immediate effect the listing of Neinor Homes shares on the Stock Market, given the information that advanced this possible acquisition. On its return to the listing, around 3:00 p.m., Neinor has shot up to touch a 5% rise and thus reach 12 euros per share, maximums not seen since September. At the close, the share closed with a rise of 4.02% to 11.9 euros , levels from the beginning of October.

In a communication to the market, the real estate developer acknowledges that it is participating in a preliminary assessment process to reach a possible integration operation with the other developer Vía Célere.

For this reason, the company has already signed a confidentiality and exclusivity agreement and already has financial and legal advisors who are working on this potential integration operation.

In any case, it ensures that no agreement has yet been reached on the possible terms and conditions of this eventual operation, nor that any decision has been made in this regard, so there is no certainty that it will be adopted.

Quabit absorption
At the beginning of the year, Neinor Homes also announced the merger by absorption of Quabit Inmobiliaria through a capital increase of close to 56 million euros to accommodate the shareholders of the absorbed company in its capital.

In this way, the shareholders of the real estate developer came to control 93% of the resulting company after the merger , while the class A shareholders of Quabit were admitted with a 7% stake.

Quabit contributed a land of 7,000 homes, 268 of them finished, 1,337 under construction, 2,800 of finalist land and another 2,600 units of strategic land at a price of 12 euros per square meter. Thanks to this operation, Neinor increased its land bank to 16,000 homes.

The newspaper Expansión announced on Monday that the group is holding exclusive negotiations to acquire the real estate fund Värde, an operation that would create a giant with a portfolio of 37,000 homes, an ebitda of 187 million and assets valued at 3,770 million.

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