Francisco José Riberas entered into an agreement to acquire 63% stake in General de Alquiler de Maquinaria, S.A. from group of shareholders for €20.5 million.

Francisco José Riberas entered into an agreement to acquire 63% stake in General de Alquiler de Maquinaria, S.A. (BME:GALQ) from group of shareholders for €20.5 million on December 5, 2018. Under the terms of the transaction, Francisco José Riberas will acquire 20.1 million shares of General de Alquiler de Maquinaria for the purchase price of €0.977 per share. Subsequently to this transaction, Halekulani will launch a mandatory takeover for the rest of the shares of General de Alquiler de Maquinaria at a price of €0.977 per share.

Francisco José Riberas intent is for General de Alquiler de Maquinaria to continue trading on the Spanish Stock Exchange. As per disclosure of September 19, 2019, Francisco José Riberas completed the acquisition of unknown majority stake in General de Alquiler de Maquinaria, S.A. in early 2019.