The offer is for a total share of 84.66% of the Luxembourger company, which represents around 40.04 euro per share, revealed the release made available by the Mercado Alternativo Bursátil last week.
With this operation, Santander will become the REIT’s largest owner, since it will add this share to the 14.95% share of the company it already owns, thus controlling 99.62% of Uro Property. But this share can be further increased since this takeover bid also extends to minor shareholders, who own 0.38% of the shares, revealed the same document.
This process is subject to final approval by the National Commission on Markets and Competition (CNMC), which is scheduled for the last day of September.
REIT Uro Property Holdings currently has a total 692 offices spread across Madrid, Catalonia and Andalusia with a total combined area of 326.975 sqm, which were, at the end of last year, estimated at around 1.847 million euro. Most of these offices are occupied by Banco Santander itself