Grupo Javer S.A. de C.V. and Empresas ICA, S.A.B. de C.V. announced that they have entered into a definitive agreement to combine their homebuilding assets in Mexico, creating the second homebuilder in the Infonavit system. Javer will acquire the assets and operating liabilities related to 20 affordable housing development projects being developed by ICA through its ViveICA subsidiary in exchange for newly issued shares of stock representing a 23% ownership interest in Javer, plus the refinancing of Ps. 600 million of associated project debt. The 20 housing developments could contribute up to 7,000 units annually to Javer´s operations and include land reserves for more than 40,000 units. The addition of ViveICA's developments and land reserves will add six new cities in five states to Javer's market presence, and strengthen its position in its core markets in northern and western Mexico.

ICA will become Javer's third shareholder, with two board seats. Diego Quintana, ICA's Vice President for Strategic Alliances, will become Co-Chairman of Javer's Board of Directors. ICA will have shareholder rights similar to those currently held by other Javer shareholders. Javer's senior management team will remain in place and will lead the effort to integrate ViveICA employees and operations under the Javer umbrella.