The listed company Urbas has announced that it is lowering its acquisition price of the company Joca Ingeniería y Construcciones. The operation, which was closed for 35 million euros, will now cost only 15 million euros.
The change is due to «the need to make a series of accounting adjustments to Joca’s financial statements corresponding to fiscal years prior to its acquisition,» said Urbas in a statement to the CNMV. Now, the accounts for the financial year 2020 will have to be reformulated.
Read the full article in Spanish.
