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The Shareholders of Ibervalles Approve the Purchase of an Office Building in Madrid for More Than €26 Million

This is the Socimi's first operation since its IPO at the end of July and its fourth so far this year. Its pipeline is valued at 246 million euros.

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The Socimi Ibervalles is ending the year in which it debuted on the stock market with a significant new acquisition. The company held a Universal Shareholders’ Meeting last week to approve the acquisition of a new office building in Madrid. For the company, the property has the status of an essential asset and, therefore, the operation must be worth at least 26.5 million euros, although the exact price has not been revealed.

In accordance with the provisions of Article 160 of the Capital Companies Act, the shareholders are responsible for authorising the acquisition of essential assets, considered as such those whose transaction cost exceeds 25% of the value of the assets that appear on the last approved balance sheet.

Read the full article in Spanish.

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