Martinsa of Spain has received the green light to take over 86.48% of rival Fadesa Inmobiliaria, Martinsa said in a statement to the Spanish stock market regulator CNMV. The merger of the two real estate groups is scheduled for completion by end-June, pending approval from shareholders representing 54% of the share capital. Martinsa launched an offer of €35.70 per share in September 2006, valuing Fadesa at about EUR 4 bn.
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