Belgian real estate investment company Xior launches a bid for a Spanish student housing specialist
Steph Deschamps / July 12, 2021
Xior, a Belgian company specializing in student housing, has launched a bid to acquire a majority stake in its Spanish competitor Student Properties Spain (SPS), it announced Monday morning.
SPS has 3 residences in Spain, in Madrid, Malaga and Seville, with a total of 725 beds
Xior, which already has 4 residences in Spain - 2 in Barcelona, one in Madrid and one in Granada - is offering 2.3417 euros per SPS share. If its offer is accepted, the listed company will become the majority shareholder of the Spanish group.
The acquisition of this portfolio will allow Xior to acquire a dominant position in the Spanish marke where the Belgian company intends to continue its expansion, commented its managing director Christian Teunissen.
Upon completion of the transaction, Xior will offer more than 17,500 student rooms in 32 cities in Belgium, the Netherlands, Spain and Portugal.
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