Urbas has reached an agreement in principle with Al Alfia Holding for the acquisition of 51% of the share capital of the construction and civil works company Ecisa, of which the Qatar business group recently became the sole shareholder and in which it will maintain a 49% stake.

This acquisition will mean, in turn, that the Qatar group will become a partner of Urbas taking a shareholding of approximately 3%, as reported by the Spanish company to the National Securities Market Commission (CNMV).

The formalization of the final agreement between the parties is advanced and depends on the fulfillment of certain conditions, including that Urbas and Ecisa reach an agreement with the banking pool of the second, with which they are already in negotiations, and the satisfactory conclusion of a procedure of ‘due diligence’.


Read more at Cinco Días