Fomento de Construcciones y Contratas, S.A. (FCC) announced on 23 March to CNMC its partial voluntary takeover bid for up to 36,402,322 shares, represening 24% of the share capital of Metrovacesa.
The Board of Directors of Metrovacesa has approved the appointment of Bank of
America as Financial advisor, as well as Hogan Lovells and Uría Menéndez as Legal
advisors, to properly assess the Financial and Legal implications of the takeover bid
and to be advised on the various actions that the company should take in the context
of the takeover bid in the best interests of all its shareholders.
The Board of Directors has also decided to set up a committee for monitoring the
takeover bid, which will be headed by the chairman of the Board of Directors and
the Chief Executive Officer. The committee will keep the Board of Directors and its
members regularly informed.
FCC Inmobiliaria made a partial voluntary public offer of Metrovacesa, S.A., representing 24% of its share capital.
Hogan Lovells will be advising Metrovacesa with Corporate/M&A and Capital Markets partner and former managing partner Lucas Osorio.
FCC is being represented by ECIJA, as informed by Legal Dealmaker on March 24.