EQS-News: VIC Properties announces new ownership and strengthened financial structure plans
VIC Properties S.A. (“VIC Properties”, “VIC”, “Company”), one of the largest residential real estate developers in Portugal, today announces that a group led by institutional investors and the existing VIC Management Team, has acquired the Company in a transaction with a total enterprise value of more than €670 million from Aggregate Holdings S.A. (“Aggregate”) (the “Transaction”).
- VIC Properties S.A. (“VIC Properties”, “VIC”, “Company”), one of the largest residential real estate developers in Portugal, today announces that a group led by institutional investors and the existing VIC Management Team, has acquired the Company in a transaction with a total enterprise value of more than €670 million from Aggregate Holdings S.A. (“Aggregate”) (the “Transaction”).
- As previously announced on the 17th March 2023, the Transaction provides VIC Properties with a significantly strengthened and more flexible financial structure.
- It demonstrates the long-term commitment of the new investors, led by AlbaCore Capital Group, Mudrick Capital Management, L.P. and Owl Creek Asset Management, L.P., to the Portuguese residential market and their confidence in the existing VIC Management Team to lead VIC Properties into a new growth phase.
- As part of its new chapter, VIC Properties will receive new funding to continue and further accelerate the development of its residential projects in Lisbon and in the region of Comporta and Melides.