The operation, which is pending approval, has a suspension clause which forces the American fund to acquire at least 50.01% of Testa’s capital and also for the take over from Blackstone to be approved by the competition authorities.
In mid September, Blackstone bought from Santander, BBVA and Merlin Properties the 50.01% of Tesla Residencial’s capital share for 947,68 millon euro. Tesla Residencial is the top apartment renting company in the country with some 10.700 properties The American fund, with this percentage, took control of the REIT listed in the MAB buying part of the shares from the company presided by Ana Botín and all the shares belonging to BBVA and Merlín.