Astroc, the leading Spanish real estate company, has concluded agreements for the acquisition of 49.99% of Landscape, the real estate subsidiary of Banco Sabadell. Investment vehicles Alramaev and Courrent Assets, owned by various companies, are buying the remaining shares. Alramaev will get 45.01% and Courrent Assets will hold 5.1%.
Astroc, the leading Spanish real estate company, has concluded agreements for the acquisition of 49.99% of Landscape, the real estate subsidiary of Banco Sabadell. Investment vehicles Alramaev and Courrent Assets, owned by various companies, are buying the remaining shares. Alramaev will get 45.01% and Courrent Assets will hold 5.1%.
The owners of the two investment vehicles include Inversiones Hemisferio, Metropolis, Nozar, and the group Andres Ballester. The price for the operation was EUR 987 mln. Landscape is a company valued EUR 1.93 bn, with debts of EUR 1.4 bn.
Astroc, the real estate company owned by Enrique Banuelos, initially made an offer for 100% of Landscape. However, the group later announced it 'favoured carrying out the acquisition together with other entrepreneurs of the real estate sector, some of which are also partners in other operations'.
