Lar Espana Real Estate Socimi SA is a real estate investment trust firm.
Hines Interests LP, the United States based commercial real estate development company and Grupo Lar, the Spain-based property management company through a special purpose company, Helios RE SA, have agreed to acquire 75,196,924 shares representing 89.85% of Lar Espana Real Estate Socimi SA, the Spain based real estate investment trust firm from Brandes Investment Partners LP, the local investment firm. The consideration was EUR 609.0951m ($661.16m) based on offer price of EUR 8.10 ($8.79) per share. The consideration is €624.1345m ($677.4866m), valued on the basis of 75,196,924 shares at the offer price of EUR 8.30 per share. The deal value including net debt is EUR 1.088bn ($ 1181.24m).
Advised in the sale of
Lar Espana Real Estate Socimi SA (89.85%)
to