Neinor Is Said to Show Interest in Rival Spanish Developer Aedas

Plan an opa, next to Apollo, for 79% in Castlelake's hands for over 1 billion.

Neinor Is Said to Show Interest in Rival Spanish Developer Aedas

Neinor Homes SA has shown interest in acquiring a significant stake in rival Aedas Homes SA, according to people familiar with the matter.

Neinor Homes has confirmed that he has entered into talks with Castlelake, the U.S. fund that owns 79% of Aedas Homes, to negotiate a possible corporate transaction on this last real estate developer, as Neinor has communicated this Tuesday to the National Securities Market Commission (CNMV).The departure of Castlelake from the capital of Aedas Homes, after more than 10 years of staying in the real estate, is something that has long been specula…

The shares of Aedas Homes and Neinor Homes have suffered sharp falls this Tuesday after publishing that the promoter led by Borja García-Egotxeaga, could be preparing one of the largest mergers of the Spanish real estate sector. According to Bloomberg, Neinor has shown interest in acquiring a majority stake of 79% in Aedas, currently in the hands of the US Castlelake fund. The market has reacted nervously to the possibility of this operation. Ae…

With this statement, the Basque real estate company has gone out to pass the information published by 'Bloomberg', in which it was advanced that, together with the Apollo fund, it wants to take the 79% that Castlelake has in the quoted Aedas Homes. Likewise, and according to El Economista, the transaction would be negotiated with a discount on the current quote (29.3 euros) of Aedas of the approximately 15%, which implies that it could exceed 1 …