Spanish property firm Astroc Mediterraneo confirmed it is in talks with rival Agrupacion Activdades y Inversiones Inmobiliares (AISA). Astroc said it was in talks with Aisa over a possible ‘corporate move’, partly confirming earlier reports in Spanish newspaper El Pais and news agency Reuters that the two companies were in merger negotiations.
Spanish property firm Astroc Mediterraneo confirmed it is in talks with rival Agrupacion Activdades y Inversiones Inmobiliares (AISA). Astroc said it was in talks with Aisa over a possible ‘corporate move’, partly confirming earlier reports in Spanish newspaper El Pais and news agency Reuters that the two companies were in merger negotiations.
A merger between the two companies would create Spain’s fifth largest property group. Citing people close to the talks, Reuters reported the union of the two companies would create a company with over EUR 5 bn in real estate assets and 8 million m2 of building land. The deal is set to be completed next year, the news agency said.
