Merlin Creates Largest Spanish REIT in Deal With Metrovacesa

Updated on
  • Merlin issues $1.9 billion in stock; commercial assets merged
  • Metrovacesa owners get majority stake in residential business

Merlin Properties Socimi SA and Metrovacesa SA agreed to combine their commercial and residential property businesses, creating Spain’s largest real estate investment trust. Merlin shares rose the most in five months.

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