Castlelake has agreed to tender its entire stake in Aedas, facilitating Neinor's takeover to create Spain's largest residential property developer with control of around 20,200 units.

Information on the Target

Castlelake, a significant stakeholder with a 79% ownership in Aedas, has finalized a hard irrevocable agreement to offer its entire stake in a tender offer. This decision underscores strong visibility for the deal and confirms its execution certainty.

The completion of this transaction, pending customary conditions including competition clearance, is poised to transform Neinor into Spain's largest residential property developer. Post-transaction, Neinor will oversee approximately 20,200 residential units, significantly enhancing its market position.

Industry Overview in Spain

The Spanish residential property market has been experiencing a robust recovery, driven by both domestic and international demand. Low int