8 October 2018
Clifford Chance advises Vía Célere on the acquisition of Aelca
Clifford Chance Spain has advised Vía Célere, an entity controlled by funds advised by Värde Partners, to acquire the land bank business of Aelca, another residential developer and asset manager in Spain as Vía Célere.
The acquisition will make Vía Célere the largest residential developer in Spain with a gross asset value of over EUR 2.2 billion, while it will see Värde increase its stake in Vía Célere to 75 percent. The transaction has been structured by means of certain interrelated M&A transactions (including the execution of several sale and purchase agreements and a corporate merger involving eighty-five Aelca companies), which have been designed so that Vía Célere acquires control of all the Aelca assets within the perimeter of the transaction.