SPANISH SMALL & MID CAPS

Inmobiliaria Colonial and the socimi Axiare merger

Office rentals Socimi Colonial Recorded No “Significant” Rental Defaults In April And May

Colonial has limited the impact of the coronavirus crisis to 2% of the total rent it charges for its office buildings. Depending on how the situation evolves, this percentage could rise to a maximum of 6% for the year as a whole, according to chairman Juan José Brugera. This rate is equivalent to about 21 million euros, in virtue of the 352 million euros in rental income recorded in 2019.

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Fluidra Acquires 80% Of Australia’s Fabtronics

The agreement with Fluidra values ​​100% of Fabtronics at 18.75 M AUD excluding future earn-outs payments. The price for the purchase of 80% of Fabtronic will be paid out as follows: as of today’s date, an initial payment of 15 M AUD has been made; at the same time, additional earn-outs payments linked to Fabtronics results have been agreed for the next three years. The contract also includes cross sell and purchase options which would allow Fluidra to raise its stake in Fabtronics’ share capital to 100%.