Saturday, January 22, 2022
HomeEnglishSareb Sells I...

Sareb Sells Its 20% Stake in Témpore for Over 30 Million Euros

TPG will pay 30.11 million euros for the 20.3% it did not already own of the socimi Tempore to its former partner and founder of the vehicle, Sareb.

tempore

Sareb is divesting its listed real estate investment vehicle Témpore Properties. The asset management company created the socimi in 2017 to monetise the rental properties it had taken over from the rescued banks.

Five years later, Sareb has completed the process of selling its stake. Its partner in the socimi, the Texas Pacific Group (TPG) fund, paid more than 30.11 million euros for the 20.3% still controlled by the bad bank.

Tempore Holdings SCSp, a TPG company, went from holding 79.14% of the company’s share capital to 99.45%, as the firm reported to the stock exchange regulator.

This transfer took place within the framework of the put option contained in the shareholders’ agreement entered into between Sareb and Tempore Holdings SCSp on August 5, 2019 – notified by the Company as a significant event on August 8, 2019 – and which was exercised by Sareb on July 30, 2021.

Read the full article in Spanish

B-Exclusives

Latest news