A new corporate operation in the Spanish real estate market has taken place. The Belgian company Xior Properties has obtained shareholder approval to acquire the listed Socimi SPS.
On July 12, the group specialising in student residences launched a takeover bid for the Spanish company, which also specialises in the same type of asset. In order to acquire SPS, Xior offered shareholders 2.3427 euros per share, valuing the Spanish listed company at 58.5 million euros.
The socimi Student Properties Spain (SPS) was founded in 2016 and listed on BME Growth since 2017. It was the first socimi specialising in student residences on the Spanish stock exchange. It currently owns three student complexes located in Madrid, Seville and Malaga, with 725 beds.