Neinor Homes, S.A. (BME:HOME) agreed to acquire Quabit Inmobiliaria, S.A. (BME:QBT) for €62.3 million on January 11, 2021. Neinor Homes, S.A. shall issue 1 shares for every 25.965 shares of Quabit Inmobiliaria, S.A. As a result of transaction, Quabit Inmobiliaria, S.A. will merge. The transaction is a merger by absorption of Quabit through a capital increase of about €56 million to give place in the capital for the shareholders of the absorbed company. In this way, the current shareholders of Neinor Homes will control 93% of the resulting company, while the Class A shareholders of Quabit will be admitted with a 7% stake. Post completion, the Neinor Homes, S.A. will continue to led by current Chief Executive Officer Borja García-Egotxeaga, and the Deputy Chief Executive Officer and Chief Financial Officer, Jordi Argemí, while the current Chief Executive Officer and president of Quabit Inmobiliaria, S.A. , Félix Abánades, will remain linked to the management as Senior Advisor.

The Board of Directors of Neinor Homes, S.A. and Quabit Inmobiliaria, S.A. has approved the transation while approval from their shareholders is scheduled for the end of March 2021 or beginning of April 2021. As of March 31, 2021, the transaction has been approved by the shareholders of both Quabit and Neinor. On May 19, 2021, Spanish National Markets And Competition Commission approved the transaction. JPMorgan Chase & Co. acted as financial advisor and fairness opinion provider to Neinor Homes, S.A. Deutsche Bank Aktiengesellschaft and PwC Corporate Finance LLP acted as financial advisors to Neinor Homes, S.A. while Gabriel Nuñez, Iratxe Celaya, David López Pombo and Blanca Arlabán of Uría Menéndez Abogados, S.L.P. provided legal advisory services to Neinor Homes, S.A. Arcano Corporate S.L. acted as financial advisor to Quabit Inmobiliaria, S.A. Ignacio Escrivá de Romaní and Juan Aguayo of Cuatrecasas, Gonçalves Pereira, S.L.P. acted as legal advisors to Quabit Inmobiliaria, S.A. KPMG Corporate Finance LLC acted as financial advisor to Neinor Homes, S.A.