Terrafina acquisition on pause due to meeting cancellation
Real Estate Market & Lifestyle | May 09, 2024 |

After the presentation of the proposals that Fibra Terrafina has received for its eventual acquisition, they are on pause, given that the holders' meeting called for last April 30 was canceled due to lack of attendance. It was verified that only 49.14% of said Real Estate Trust Certificates (CBFIs) were duly represented.

At this meeting, the review and presentation of six bidders interested in acquiring up to 100% of their outstanding share capital on the Mexican Stock Exchange (BMV) was considered.

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Among those interested in acquiring or merging with Terrafina are; Fibra Prologis, Fibra UNO, Fibra MACquarie and Fibra MTY, the unsolicited proposals include that of Fibra Uno (FUNO) to create a vehicle that combines its industrial use properties with those of Terrafina, while the remaining offers have proposed making public offers of acquisition through the exchange of CBFIs.

In addition to the presentation of the offers, the assembly will discuss the possibility of making the administration of Terrafina internal, currently in charge of PLA industrial administration.

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This entire process will require the appointment of other management figures at the head of the company, since it will appoint a director of capital markets, another of development, another of human resources, among others.

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Original Note.

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