Martinsa, Fadesa set to merge via 5-for-4 share swap

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.

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