Spanish construction company San Jose's EUR 917 mln takeover offer made for peer Parquesol has been approved by CNMV, the Spain's National Commission on Stock Exchange. The bid of EUR 23.1 a share is being made by Udramed, the investment arm rof Grupo San Jose.
Spanish construction company San Jose's EUR 917 mln takeover offer made for peer Parquesol has been approved by CNMV, the Spain's National Commission on Stock Exchange. The bid of EUR 23.1 a share is being made by Udramed, the investment arm rof Grupo San Jose.
The offer has already got consent from Competencia, the Economy and Housing Ministry's competition agency. The bid is likely to succeed given that Grupo San Jose and New GP Cartera, which owns a 54.77% stake in Parquesol, reached agreement for a 100% buy-out by San Jose in July 28, Spanish newspaper BolsaCinco reported.
Parquesol, a property company based in Spain, had net profit for EUR 47.8 mln in the period January-September 2006, which means an increase of 14% compared to the same period last year.
