The socimi Student Properties Spain, for which Belgium’s Xior Student Housing recently launched a takeover bid, has carried out a non-cash capital increase of 14 million shares. The Spanish company exchanged these shares as it incorporated HUBR Malaga SOCIMI, S.A. and HUBR Seville SOCIMI, S.A.
According to sources close to the company, the capital increase was envisaged as part of the takeover process. The two acquired companies own an asset in Malaga and one in Seville, respectively. Although independent, they were already considered part of SPS’s portfolio.
Xior’s offer is conditional upon acceptance by 95% of SPS’s shareholders. The owners of the shares will be able to accept between July 22 and August 5.
