Neinor is considering buying Aedas Homes from the US fund Castlelake.

Neinor Homes has entered into talks with Castlelake, the US fund that owns 79% of Aedas Homes , to carry out a possible corporate transaction for the latter real estate developer, according to information provided by Neinor to the National Securities Market Commission (CNMV) .

Castlelake's exit from Aedas Homes' capital, after more than 10 years of holding the company, has been a matter of long-standing speculation in the market and could represent a buying opportunity for Neinor Homes, Aedas' main competitor. In any case, Neinor is currently analyzing the operation but has not made any decisions regarding a possible transaction.

The company has reiterated that it remains focused on its growth strategy in the residential business in Spain, as well as on the development of its asset management platform, with the goal of maximizing value for its shareholders and "consolidating its position as a leading operator in the sector."

Neinor thus confirmed to the CNMV the news reported by Bloomberg, according to which the developer has expressed interest in acquiring a significant stake in Aedas Homes, specifically the one held by the US fund Castlelake. To this end, it is working with the Apollo Global Management fund, which would provide financing for the purchase.

The transaction has not been well received by the market, and both companies' stock prices have fallen: Neinor, down 3.75% to €13.88 per share, and Aedas, down another 4.9% to €28.1. The latter has a market capitalization of €1.237 billion, meaning its 79% stake in Castlelake is valued at €977 million.