Metrovacesa €1.64 billion share capital increase

Overview:

• Metrovacesa has undergone three capital increases.
• The deal consisted of a non-monetary increase through which shareholder banks contributed real estate assets, a capitalisation of debt and a monetary increase aimed at minority shareholders..
• The deal saw Metrovacesa's land, development and house sale business spun-off into Metrovacesa Suelo y Promoción. Metrovacesa shareholders received one share of Metrovacesa Suelo y Promoción for each share that they held in Metrovacesa.
• Santander is the main shareholder of Metrovacesa.
• Metrovacesa is a Spanish real estate company.

Sam Duke - Editor