Mexican giant Slim issues takeover bid for Spanish group Realia

Slim holding company buys Bankia SA’s stake and offer a bid for the whole company

Slim holding company buys Bankia SA’s stake and offer a bid for the whole company


One of the billionaire Carlos Slim’s holding companies: Inmobiliaria Carso, confirmed its intention to buy Bankia SA’s stake in the Spanish real estate group Realia Business SA. With this purchase, the Mexican company aims to acquire the whole company.

The established price will be 0.58 euros per share for a total amount of 44.5 million euros to buy Bankia’s 24.95% stake in the Spanish group and they a are also committed to buy the whole company at the same price within nine months. For the record, Bankia is the 4th largest bank of Spain and reaches 12 million customers. With this bid, the Mexican company overrules the offer emitted by the Spanish investment fund Hispania which is partly owned by Soros Fund Management, held by the U.S. billionaire George Soros.

Recently, the Mexican mogul has shown his will to massively invest in the Spanish market. Last year, Carlos Slim agreed to be the biggest shareholder in another Spanish construction company, Fomento de Construcciones Contratas SA, which is a Realia shareholder as well.

J.E.

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