Spanish Securities Commission authorises Neinor DMP BidCo’s mandatory cash offer for Aedas Homes at EUR 24 per share

The Spanish Securities Commission (CNMV) has authorised the mandatory public takeover bid launched by Neinor DMP BidCo, S.A.U. (Neinor Group) for shares in Aedas Homes, S.A., at a cash price of EUR 24 per share. The bid was filed with the CNMV on 22 December 2025 and is for Aedas’ entire share capital of 43,700,000 shares, excluding 34,610,761 shares (79.20%) immobilised by the bidder and stemming from a prior voluntary bid authorised on 26 November 2025. The offer therefore effectively targets 9,089,239 shares, representing 20.80% of Aedas’ capital. The price was set in line with the fair price rules under Article 110 of the Securities Markets and Investment Services Act and Article 9 of the Royal Decree on takeover bids, and the mandatory bid is not subject to conditions. As guarantees, the bidder provided an unavailable cash deposit of EUR 118,141,736 at Banco Santander and two bank guarantees totalling EUR 100 million from Banco Santander and BBVA. The acceptance period will be 29 calendar days starting on the first stock market trading day following publication of the first announcement of the essential terms, and ending on a trading day. The bidder indicated that, if squeeze-out requirements are met, it will require the sale of the remaining shares, leading to delisting; if not, it will consider maintaining the listing or pursuing delisting, provided any delisting offer price does not exceed the current offer price. The prospectus and supplementary documents will be available in the CNMV’s public registers at least from the first trading day after the first announcement is published.