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The Qatarí Group Al Alfia Acquires Shares in Urbas in Exchange for a 51% Stake in Ecisa

The Qatari group, which owns the Alicante-based construction company Ecisa, has given up half of its stake in exchange for shares in the listed real estate company.

Bin Jassim Al Thani representante de Al Alfia con Manuel Pelaez de Ecisa 1
Bin-Jassim Al Thani, a representative of Al Alfia, with Manuel Pelaez, from Ecisa.

Urbas Grupo Financiero has reached an agreement in principle to acquire 51% of the share capital of the Alicante-based construction company Ecisa, of which the Qatari business group Al Alfia is the sole shareholder.

This operation will involve the entry of the Qatar-based holding company into Urbas’s shareholding with a significant stake of around 3%. That will give it the right to appoint a member to its Board of Directors once an agreement has been reached for it to continue as a shareholder of the property developer.

Read the full article in Spanish.

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