Metrovacesa S.A. made an offer to acquire remaining 0.03% stake in Metrovacesa Promoción Y Arrendamiento S.A. for €0.09 million.
September 21, 2020
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Metrovacesa S.A. (BME:MVC) made an offer to acquire remaining 0.03% stake in Metrovacesa Promoción Y Arrendamiento S.A for €0.09 million on September 22, 2020. As per the transaction, shareholders of Metrovacesa Promoción Y Arrendamiento S.A can elect to receive consideration in cash or shares of Metrovacesa S.A. For cash consideration, Metrovacesa S.A. shall pay €0.1152 per share and for shares, exchange ratio will be 143:1. Metrovacesa S.A. shall pay maximum of €0.09 million in cash or maximum of 5771 shares in cash of share exchange.
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.
METROVACESA S.A. 
