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Cerberus nominates Divarian’s ex-CEO Haya’s director
31 May 2019 | Vanessa Sousa

American fund Cerberus took a step forward in its plan to merge Haya Real Estate with Divarian Properiedad, by nominating Enrique Dancausa as the CEO of the asset management company, who had, during the last few months, occupied the same position at Divarian.

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Haya’s new member will be in charge of the company’s business and operations, and, according to information reported by Spanish newspaper El Confidencial, Enrique Dancausa should start his new job soon, before the companies’ merge, which was expected for mid-June.

At the beginning of the month, American fund Cerberus announced the merge of its two companies, whose portfolios reach a combined total of 60.000 million euro. This strategy will reinforce, according to the same newspaper, Haya’s portfolio before its sale so that it is possible to compensate the eventual losses resulting from the non-renewal of the contract with Sareb, which guarantees a 100 million annual rent to the company.

Cerberus already has three proposals on the table to acquire Haya. They were sent by doBank, Centerbridge and Centricus and have values close to 700 million euro.

 

Photo: Eje Prime