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Urbas’ Shareholders Agree To Syndicate Shares To Continue Their Management

BySam Brad

Oct 19, 2021

Robisco Capital Markets and the company Rialpa’s Word have signed a syndication agreement in order to give continuity and security to the current management of the company , as Urbas has informed the National Securities Market Commission (CNMV).

Currently, Robisco Capital Markets is indirectly a significant shareholder of Urbas with 20.77%, while Rialpa’s Word has 6.52% after the acquisition by Urbas last July of the construction company Joca and the approval of the latest increase in the company’s capital stock.

In this way, the syndication of shares represents 27.3% of the share capital of the company chaired by Juan Antonio Acedo , reaffirms the commitment of both parties to the current Urbas business plan, and reconfirms the stability of its Board of Directors for the benefit of all its shareholders.

In this sense, the purpose of this agreement is to give continuity and security to the management of the company, as well as to favor, simplify and facilitate both its operations and decision-making at the General Meeting .

The agreement to syndicate the shares was signed on October 13 and has a validity of 4 years from its signature, the first two being mandatory, at which time either of the intervening partners could communicate its resolution to the other.

All in all, and as Urbas explains, it is confirming a very solid position to tackle its expansion, diversification and internationalization strategy , focused on creating value for all its shareholders.

After the acquisitions of the construction companies Murias, Ecisa, Urrutia and Joca, and the most recent one by the Basque developer-construction company Jaureguizar just a couple of weeks ago, Urbas continues to advance in the objectives of its roadmap with a horizon of 2025.

Sam Brad

The Great Writer and The Passionate Poet As Well, He Graduated from University Of Florida in Journalism and Brad have around 12 years of experience in news and media section.

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