U.S. buyout firm Varde Partners LP is poised to create a 2.2 billion-euro ($2.5 billion) Spanish home builder in a bet on the nation’s economic recovery.
The investment firm’s residential property developer, Via Celere, agreed to acquire the development land owned by Aelca, another Varde unit in the country, the company said in a statement Oct. 1. Varde will hold 75 percent of Via Celere and retain full control of Aelca. Bloomberg news reported the deal Sept. 29.
“Via Celere is really well positioned in the market as it will not need to buy land to fulfill its short-term targets,” ...
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