Metrovacesa : Offer from FCC: not particularly attractive at this stage
>Proposed price of € 7.80 per share does not look that attractive - FCC, the Spanish services, water treatment and construction group covered by ODDO BHF with Antonio Rodriguez Vicens (see flash), on Wednesday morning announced its intention to launch an offer aimed at strengthening its stake in Metrovacesa from 5.4% to 29.4%:The entity FCC Immobiliaria, which is part of the FCC group, indicated in a document sent to the Spanish stock market watchdog (CNMV) that ...Metrovacesa SA, formerly Metrovacesa Suelo y Promocion SA, is a Spain-based real estate developer. The Company specializes in construction and sale of sustainable housing, both single-family and multi-family residential properties. Its activities also include promotion, urbanization and parceling of real estate in general, as well as real estate management for own benefit or on behalf of third parties. Its asset portfolio includes more than 6 million square meters of building land across Spain, as well as already developed properties in cities, such as Malaga, Almeria, Cordoba, Barcelona and Madrid, among others.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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