Carlos Slim acquires 3 % of Quabit Inmobiliaria for €5M

Carlos Slim acquires 3 % of Quabit Inmobiliaria for €5M

Carlos Slim - Photo By Observatorio Inmobiliario

Slim thus doubled his investment on the Spanish «brick», since he currently controls Realia and construction group FCC.

In Quabit’s case, Slim, through company Inversora de Carso, acquired directly a set of 4.47 million shares. The company’s shares sky-rocketed in the Spanish Stock Exchange after the news became known.

With this operation, the real estate company is now owned by Slim and its CEO Félix Abánades, who owns 20.3 % of the company’s shares, Francisco García Paramés, through his management company Cobas, with 3.08 %, and several international funds.

The developer is following a business plan, with which, with the adjustments introduced at the beginning of this year, it intends to deliver between 2.600 and 2.800 houses per year starting in 2022, to surpass 600 million euro in income and 70 million euro Ebitda.

Furthermore, Quabit is negotiating the sale in bulk of a total 1.300 houses under construction in several different developments in Malaga, Madrid and the Corredor del Henares area.

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