The management boards of Spain's Grupo Martinsa and Fadesa Inmobiliaria have approved their merger through a share swap with a ratio of five Martinsa shares for every four Fadesa's shares. This values Martinsa's shares at EUR 0.03 and Fadesa's at EUR 0.10. The proposal still needs to be approved by both companies' shareholders.
CDC Investissement Immobilier, the real estate asset management subsidiary of French financial institution Caisse des Dépôts, has inked a strategic partnership with Covivio in Germany.
