The purchase of QPQ Alquiler Seguro is still on track. The board of directors of the Socimi Ktesios Real Estate has communicated the approval of the purchase process of QPQ Alquiler Seguro after having completed the Due Diligence of the company.
Last December, Ktesios, owned by RKS Real Estate, launched a takeover bid for the Socimi specialising in affordable rental residential. Ktesios' offer includes the payment of 1.25 euros per share of QPQ Alquiler Seguro, which brings the total valuation of the company to 13.26 million euros. At the closing of 2022 QPQ Alquiler Seguro had 170 assets and an historic average occupancy of 93,1%.
The transaction, until now, was expressly conditioned to the favourable outcome of the due diligence for Ktesios. Thus, within the timeframe granted, and after completing the process positively, the board of directors of the Socimi has given the green light to proceed with the present purchase transaction.
The full terms and conditions of the acquisition of the shares remain to be determined and will be communicated by the CEO of Ktesios, Henry Gallego.