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, 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.