Astroc, Aisa meet today to discuss merger - report |
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Wed, 12 Sep 2007 08:15
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MADRID (Thomson Financial) - Astroc Mediterraneo SA and Catalan property group Aisa will meet today to try to close their merger, initially announced end-July, La Gaceta de los Negocios reported, without citing sources.According to the newspaper, the remaining obstacles include an agreement on the valuation of Aisa's assets, which the company has already said reaches some 1.540 bln eur.But Astroc has flagged that about 60 pct of Aisa's land assets are concentrated in one country home in Zaragoza, northeast Spain.Separately, some of Astroc's shareholders have complained about the quality of its merger partner's first half to June results, where the company swung to a net loss of 65.7 mln eur from a profit of 61.9 mln a year earlier.If the merger project finally goes ahead, the new company would be Spain's fifth largest property company.tfn.europemadrid@thomson.comccs/jdy/rfwCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.
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