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Spanish securities commission accepts Alzette's €1.59B Hispania takeover bid

The Spanish National Securities Market Commission received May 11 a Blackstone Group LP affiliate's application for its roughly €1.59 billion takeover bid for Hispania Activos Inmobiliarios.

The voluntary cash bid of Alzette Investment Sàrl for the 83.44% stake it does not already own in the Spanish real estate investment trust was recently approved by the Comisión Nacional de los Mercados y la Competencia.

The move will also require more than 50% of Hispania shareholders approving the Alzette offer, on top of regulatory approvals.