Overview

• The competition authority approved the public offer in phase one without commitments, according to a filing to the CNMV.
• The CNMV authorized the bid on 25 September, satisfying a key condition for the transaction to proceed.
• Neinor has set the price at €21.33 per Aedas share, valuing the deal at up to €1.07 billion after dividend adjustments.
• Castlelake, which controls 79% of Aedas, has committed to tender its stake, strengthening the bid’s prospects.
• Upon completion, Neinor expects to add 20,200 homes to reach about 43,200 units, including pre-sold inventory tied to roughly €1.7 billion in future revenue.