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last mo.

Neinor Homes in Talks for €1bn Takeover of Aedas Homes Backed by Apollo

Neinor’s approach opens a path to unlock liquidity for Castlelake eight years after its initial investment.

Imagen de archivo de una caseta de obras de Aedas Homes

Overview

  • Neinor Homes confirmed talks with Castlelake on a potential €1bn–€1.1bn public takeover bid for Aedas Homes.
  • The proposal backed by Apollo values Aedas below its recent market capitalization of €1.2bn–€1.3bn.
  • Castlelake, which owns 79% of Aedas, stands to receive over €800m from the transaction.
  • Aedas Homes delivered more than 5,000 homes in 2024 and has posted over €1bn in revenue for two consecutive years.
  • If completed, the transaction would be the largest corporate deal in Spain’s residential development sector since 2007 and bolster Neinor’s asset management platform.