Tuesday, October 27, 2020
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Metrovacesa Launches a Share Purchase Plan for its Land Subsidiary

The real estate firm is offering MPyA's shareholders 0.1152 euros per share in cash or shares in its parent company in the ratio of 143:1.

Metrovacesa has launched a plan to purchase shares in its subsidiary Metrovacesa Promotion and Leasing (MPyA), in which it currently holds a 99.973% stake, as communicated through the National Securities Market Commission (CNMV).

The offer is aimed at the nearly 3,000 minority shareholders that MPyA still maintains, and aims to “make it easier for them to monetise their investments in a simple way, given that the shares are not listed on the stock market,” say sources at the property developer owned by Banco Santander.

Read the full article in Spanish.

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