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.
