Latest news with #AedasHomes
Reuters
17-06-2025
- Business
- Reuters
Neinor shares soar after it files tender offer to buy rival Aedas
June 17 (Reuters) - Shares of Neinor Homes ( opens new tab jumped early on Tuesday after the Spanish homebuilder offered to buy all of its rival Aedas Homes' ( opens new tab shares in a deal potentially worth 1.07 billion euros ($1.24 billion). Neinor shares were up 14% in early trading to 15.58 euros - their highest level since February - and on track for their best day ever. Aedas shares, meanwhile, fell around 9.5% to 24.7 euros, a bit higher than the 24.49 euros offered by Neinor. Aedas' largest shareholder - private equity firm Castlelake, which owns 79% of the company - already agreed to sell its stake at the offered price. The transaction is "very positive for Neinor because it is purchasing at a significant discount," broker Sabadell said in a note to investors. If successful, the takeover would make Neinor the largest residential developer in Spain, giving it control of around 20,200 homes in Aedas' portfolio, mainly in the Madrid region where residential real estate prices are soaring.
Reuters
16-06-2025
- Business
- Reuters
Spain's Neinor Homes launches $1.2 billion takeover bid for rival Aedas
MADRID, June 16 (Reuters) - Spanish homebuilder Neinor Homes ( opens new tab has offered to buy all shares of its rival Aedas Homes ( opens new tab for 1.07 billion euros ($1.24 billion), a deal that could shake up Spain's residential property sector. If approved, the takeover would make Neinor the largest residential developer in Spain, with the ability to build over 43,000 homes in coming years, the company said in a regulatory filing on Monday. The takeover would give Neinor control of around 20,200 homes in Aedas' portfolio, mainly located in the Madrid region. Neinor said it expected the deal to boost its profits by 40% between 2025 and 2027, allowing it to raise shareholder payouts by nearly half over the same period. The deal is backed by Aedas' largest shareholder Castlelake, which owns 79% of the company. Castlelake has agreed to sell its stake for 24.49 euros per share, or 21.34 euros per share after a planned Aedas dividend. Neinor said it aimed to complete the acquisition by the end of this year and finance it through a mix of its own funds, a capital raise and loans. ($1 = 0.8639 euros)
Bloomberg
16-06-2025
- Business
- Bloomberg
Neinor Makes €1.07 Billion Bid for Rival Spanish Developer Aedas
Neinor Homes SA has offered to pay €1.07 billion ($1.24 billion) to take control of rival Aedas Homes SA in a deal that would create Spain's largest housebuilder. The company launched a tender offer for Aedas after signing an irrevocable agreement to buy Castlelake 's 79% stake for €24.485 a share, according to a statement on Monday. That price will be adjusted to €21.335 a share after an Aedas dividend scheduled in July.
Bloomberg
12-06-2025
- Business
- Bloomberg
Apollo Readies €750 Million Loan for Neinor's Aedas Bid
Apollo Global Management Inc. is poised to provide the bulk of the financing for a potential deal in Spain that could create the nation's biggest developer. The New York-based private capital giant is working on providing about €750 million ($870 million) in a loan for Neinor Homes SA's bid to acquire rival Aedas Homes SA, according to people familiar with the matter.
Bloomberg
27-05-2025
- Business
- Bloomberg
Neinor Said to Show Interest in Rival Spain 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 has signaled to Aedas' main shareholder Castlelake LP its interest in discussing a potential deal for the private equity firm's 79% stake in Aedas, according to two people. Apollo Global Management Inc. is working with Neinor to provide funding for the deal, said the people, who asked not to be identified as talks aren't public.
