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Neinor Homes receives CNMV authorisation to launch the mandatory tender offer for 100% of AEDAS’s share capital at €24.00 per share

Written by Customer Service on . Posted in Public Companies.

  • The mandatory tender offer is launched as a consequence of Neinor successfully securing a 79.20% controlling stake in AEDAS through the voluntary tender offer completed in December
  • The offer price of €24.00 per share, which has the consideration of an equitable price, represents a 12.5% premium over the price of the voluntary tender offer
  • The acceptance period of the mandatory tender offer will run from 30 January to 27 February, both dates inclusive
  • This step completes the roadmap communicated to the market and represents the final stage of the AEDAS acquisition process within the applicable regulatory framework, as established by the CNMV

Madrid, 28 January, 2026 – Neinor Homes (“Neinor”), Spain’s leading listed residential developer, announces that the Spanish Securities Market Commission (CNMV) has authorised the launch of the mandatory tender offer (MTO) for the remaining shares of AEDAS Homes (“AEDAS”) at the previously communicated price of €24.00 per share.

This mandatory tender offer follows the successful completion of the voluntary tender offer, through which Neinor acquired a 79.20% controlling stake in AEDAS in December 2025, fulfilling the central milestone of the acquisition roadmap communicated to the market.

The €24.00 per share offer price, which has the consideration of an equitable price, represents a 12.5% premium over the €21.335 per share price paid in the voluntary offer.

The acceptance period will run from 30 January to 27 February, both dates inclusive. Settlement of the transaction is expected to take place shortly after the end of the acceptance period, subject to the terms and conditions set out in the offer documentation.

This mandatory tender offer represents the final step in the acquisition process of AEDAS, allowing the remaining minority shareholders to tender their shares and receive a price that has the consideration of an equitable price for the purposes of the applicable tender offer regulations.

Borja García-Egotxeaga, CEO of Neinor Homes, commented: “This mandatory tender offer is being launched in line with the roadmap we communicated to the market and in accordance with the terms approved by the CNMV. Following the acquisition of control, this step ensures full compliance with all applicable regulatory requirements.”

Jordi Argemí, Deputy CEO and CFO of Neinor Homes, added: “This milestone allows us to move forward on the transaction process and focus on managing Spain’s leading residential development platform, while continuing to pursue disciplined growth in line with our strategy.”

* For the full regulatory announcement please refer to Neinor’s webpage (https://www.neinorhomes.com/en/corporate/investors/market-notifications/other-relevant-information/)

-ENDS-


About Neinor Homes

Neinor Homes is the leading residential property developer in Spain, with a fully owned land bank to develop c11,900 homes, and a GAV to June 2025 of +€1,400mn. This land bank is located in some of the fastest growing regions with the best economic fundamentals in Spain: Madrid, Guadalajara, Western and Eastern Andalusia, Levante, Basque Country and Catalonia.

Neinor is a fully integrated and well-established residential platform of scale in Spain, covering the entire development value chain from land buying, planning and urban management, product design, delegated development and construction, sales and marketing and rentals. We are committed to creating and delivering attractive risk adjusted returns for shareholders through our disciplined capital allocation strategy and our excellence in operations and risk management.

We are the only listed residential property developer with a multi-sector strategy to market in Spain, and our strategies include Build-to-rent (BTR); Build-to-sell (BTS); and the largely untapped senior living rental market in Spain, which we are progressing.

Neinor’s operational excellence, investment strategy and results achieved since 2019 have enabled us to deliver on our 5-year business plan, launched in March 2023, in a sustainable and capital-efficient manner. This plan combines a €600mn shareholder remuneration plan and an investment of €1,000mn in new opportunistic land acquisitions, half of which are expected to be undertaken in joint ventures with strategic partners through co-investment agreements, with a +20% IRR target.

We offer shareholders attractive risk adjusted returns in a country where there are strong and sustainable supply and demand fundamentals and supported by a resilient macroeconomic environment and outlook. Spain remains one the most attractive and safest residential markets worldwide, with one of the lowest ratios of new supply per capita globally since 2013.

For more information:

NEINOR HOMES
Investor Relations Department
investor.relations@neinorhomes.com

H/ADVISORS MAITLAND
NeinorHomes@h-advisors.global
David Sturken                                    +44 7990 595 913
Billy Moran                                         +44 7554 912 008

Press contact
LLYC
neinor@llyc.global

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