Saeta Yield, S.A. acquired Carapé I and II from Grupo Empresarial San José, S.A. and Abatare Spain S.L. for $65 million.
May 24, 2017
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Saeta Yield, S.A. (BME:SAY) signed an agreement to acquire Carapé I and II from Grupo Empresarial San José, S.A. (BME:GSJ) and Abatare Spain S.L. for $65 million on January 25, 2017. The acquisition will be funded with available liquidity. The agreement is subject to condition precedents being met and the deal is expected to close in the first semester of 2017. The acquisition will be value accretive and cash yield enhancing from year one. Fernando Jiménez de Aréchaga, Martín Montoro Inchausti, Aparicio Howard, Leandro Iglesias and Ana Claudia Hornos of Jimenez de Arechaga, Viana & Brause acted as legal advisor for Saeta Yield. Tomás M. Araya, Pedro de Elizalde, Valentina Toquier, Iván Bovio Marenco and Francisco Ripoll of M&M Bomchil Abogados acted as legal advisor and Juan Manuel Mercant and Marcos Payssé of Guyer & Regules acted as legal advisor for Abatare Spain S.L. José Guardo,Marta Martínez and Eduardo Sánchez of Clifford Chance acted as legal advisors for Saeta Yield. MBA Lazard acted as financial advisor to Corporación América SA, parent of Abatare Spain S.L.
Saeta Yield, S.A (BME:SAY) completed the acquisition of Carapé I and II from Grupo Empresarial San José, S.A. (BME:GSJ) and Abatare Spain S.L. for $65 million on May 25, 2017. Carapé I and II reported annual revenue of €280 million ($295.58 million) and EBITDA of €199 million ($210.07 million) in 2016.
Grupo Empresarial San Jose SA is a Spain-based holding company. The Companyâs main activities are structured in four business areas: Construction, which comprises the construction, design and execution of public and private infrastructure projects; Real Estate, which specializes in the acquisition and development of residential and non-residential properties; Energy and Environment, focused on the initiation, development and operation of energy efficiency projects using renewable energy, and Concessions and Services, which includes the management, operation, exploitation and maintenance of infrastructure, hospitals, public and private facilities, urban real estate, parks and gardens. The Company is a parent of such a number of controlled entities as Constructora San Jose SA, Cartuja Inmobiliaria SAU, Desarrollos Urbanisticos Udra SAU, San Pablo Plaza SAU and Comercial Udra SA, among others.
GRUPO EMPRESARIAL SAN JOSÉ, S.A. 
