Metrovacesa said on Thursday that after the buyback tender ended on October 24, about 58.8% of its shareholders have decided to retain their Metrovacesa shares. Another 41.2% have decided to swap their Metrovacesa's shares for Gecina's, including Bautista Soler, Joaquín Rivero, Caja Castilla la Mancha, and Prasa.
Metrovacesa said on Thursday that after the buyback tender ended on October 24, about 58.8% of its shareholders have decided to retain their Metrovacesa shares. Another 41.2% have decided to swap their Metrovacesa's shares for Gecina's, including Bautista Soler, Joaquín Rivero, Caja Castilla la Mancha, and Prasa.
The move was part of Metrovacesa's separation process announced earlier this year. The result of the operation will allow Metrovacesa to reduce its planned capital increase to EUR 566 mln, from the EUR 1.8 bn that would have been necessary if the majority of shareholders had gone to Gecina, the company said.
Additionally, Metrovacesa plans to sell 92 real estate assets, mostly residential units, at an auction to be held in Madrid this month. The properties, located in the city's central Chamberi district, will be auctioned on 26 November at Hotel Melia Castilla de Madrid. They include 87 dwellings, four commercial units and one office. The Spanish giant is being advised on the sale by the consultancy firm Atisreal.
