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ACCIONA sells its stake in Testa for €379 million

10/08/2018
  • Blackstone will pay 14.3267 euros per share

ACCIONA has reached an agreement to sell its entire stake in Testa Residencial (20%) to Blackstone. The transaction is valued at €379 million, representing a value per share of €14.3267.

The transaction will be closed once Blackstone has received the necessary authorization from Spain’s competition authorities to take over at least 50.01% of Testa’s capital.

In July 2017, ACCIONA reached an agreement to integrate its residential rental portfolio within Testa with the aim of maximizing the profitability of its assets.

 

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