ARA: Ahumada brothers plan tender offer at 5.63 pesos per share
Consorcio ARA said founding partner Ahumada and his brother Luis Felipe plan to launch a tender offer for all outstanding shares at 5.63 pesos each, a 20% premium. They do not plan to take the firm private.
MEXICO CITY, Sept 29 (Reuters) — Mexican builder Consorcio ARA said on Tuesday that two of its largest shareholders plan to launch a tender offer for all outstanding shares in the firm. 3116) per share, or a 20% premium. The bidders do not plan to take the firm private, ARA added. The bid comes two weeks after a similar offer for logistics and transportation company Traxion linked to its co-founder.
At the end of last year, the brothers held a combined 54% stake in ARA. ARA is one of Mexico's top homebuilders, and has reported selling more than 405,500 homes. It also operates a portfolio of neighborhood and regional shopping centers tied to its housing developments. com;)