Neinor Homes secures controlling stake in Aedas Homes

Spanish residential developer Neinor Homes has acquired a controlling 79.20% stake in Aedas Homes through a Voluntary Tender Offer. 

Residential project - Neinor Homes

This initial acquisition involved 34,610,761 shares at €21.335 each, totalling approximately €740 mln. The transaction's settlement is anticipated for 22 December 2025.
Following this, Neinor's deputy CEO and CFO, Jordi Argemí, will join Aedas Homes' Board of Directors. 
Having secured over 79% of Aedas, Neinor plans to launch a subsequent mandatory tender offer at €24.00 per share, a 12.5% premium over the voluntary offer price, pending CNMV authorisation. This second offer aims to maximise acceptance from minority shareholders and further increase Neinor's ownership.
Neinor emphasises that combining with Aedas will strengthen its position as Spain's premier listed residential platform, improving scale, capital efficiency, and long-term sector visibility. The company remains committed to developing high-quality housing across Spain and delivering long-term value to all stakeholders.
Borja García-Egotxeaga, CEO of Neinor Homes, commented: “We are very pleased with the outcome of the first offer, which allows us to secure a controlling interest in AEDAS exactly as committed to the capital markets back in June.”
Jordi Argemí, deputy CEO and CFO of Neinor Homes, added: “This milestone is a clear step change for Neinor and for the Spanish residential sector, positioning us to create the largest homebuilder in a highly fragmented market and to drive meaningful long-term value for shareholders.”