Realia Business has acquired 37.1% of Hermanos Revilla for 189.1 million euros, according to a note submitted by the real estate group to the National Securities Market Commission (CNMV).
Realia’s direct and indirect stake in Hermanos Revilla has reached nearly 88% of its share capital with the acquisition.
According to the real estate group, “Realia already consolidated Hermanos Revilla by global integration, so the acquisition of the additional 37.11% stake does not represent a significant change in the company’s consolidated balance sheet.”
Hermanos Revilla leases and operates office buildings in prime areas of Madrid. In the last financial year, the company’s net turnover totalled 26.6 million euros.
According to its latest balance sheet, Hermanos Revilla has total assets of 294.7 million euros and equity of 218.3 million euros.