HOT OF THE PRESS

[shak]

Fadesa is being taken over by Martin S.A. ( for those who dont know what SA is. It is spanish equivelant of a limited company)

The main shareholder of this company is a man called Fernando Martin, who I beleive have/had connections with Real Madrid football club come galacticos,

I hope this information is not boring for you all !!!!!

[romablade1889]

Shak,

Despite what others are saying, keep on posting. I don't agree with some of what you say, but it's all useful information and mostly on the ball...

If people don't want to read your posts, they don't have to!

Roma

PS. What's wrong with Southern Italy - it's the best place on Earth...

[shak]

Of course you or any one else does not have to agree with me and thats what a forum should be about a healthy dialouge on the various topics.

I respect your agreement/disagreement.

Southern Italy is wondeful I have never denied it but I have not done my ground work.

[azul]

Shak,
Does Martin S.A. have a website?

[shak]

I dont know, As the media claims that the company has acquired majority share it would have been done through some off shore company etc.

People like us will not know about the net work etc for a while. In the mean time if I find out I will post it.

[ScottieDog]

From Bloomberg:

Grupo Martinsa to Buy Spain's Fadesa for EU4 Billion (Update6)

By Joao Lima and Paul Tobin

Sept. 28 (Bloomberg) -- Grupo Martinsa, led by investor Fernando Martin, agreed to buy Fadesa Inmobiliaria SA, Spain's second-biggest real-estate company, for about 4 billion euros ($5.1 billion) to quadruple its land holdings.

Fadesa Chairman Manuel Jove, 65, will sell his family's 54.6 percent stake in La Coruna-based Fadesa to Martinsa, according to a regulatory filing today. Martinsa, a closely held company based in Madrid, offered 35.70 euros for each of the remaining shares, 21 percent more than yesterday's closing price of 29.55 euros.

Today's offer is the biggest of four bids made for Spanish real-estate companies since June. House prices in Spain are jumping for the seventh straight year, encouraging investors including Martin, 59, and Luis Portillo to snap up property companies to generate higher returns.

Martin is ``getting hold of good assets at a reasonable price,'' said Tomas Pinto, a Madrid-based analyst at Kepler Equities with a ``buy'' rating on the stock.

Fadesa's shares jumped 5.54 euros, or 19 percent, to a record of 35.09 euros in Madrid, after advancing 11 percent yesterday. Spain's market regulator will investigate the transaction to clarify whether there was insider trading yesterday, said Manuel Conthe, head of the regulator.

Golf Courses

Based on yesterday's close, Fadesa was worth 29 percent less than the company's net asset value after tax as of June 30. Metrovacesa SA, Spain's largest real-estate company, is more than two times more expensive than the value of its assets. Fadesa has 21 million square meters (226 million square feet) of land, three times that of Martinsa.

Fadesa posted revenue of 977.1 million euros for 2005, about 42 percent more than a year earlier and more than four times the figure for 2001. The company has built properties ranging from vacation homes in the Canary Islands to golf courses near the Spanish city of Malaga, according to its Web site. It is also developing a tourist resort near Casablanca on the Mediterranean coast.

Luis Portillo, chairman of Grupo Inmocaral SA, yesterday completed his 3.76 billion euro takeover of property company Inmobiliaria Colonial SA. In other transactions in the industry, Construcciones Reyal SAU has offered 3.3 billion euros for Inmobiliaria Urbis SA and Grupo San Jose has bid 918 million euros for Parquesol Inmobiliaria & Proyectos SA.

Higher Interest Rates

Jove is selling Fadesa, which he founded and led through an initial public offering in April 2004, amid predictions that gains in property prices may be peaking after the European Central Bank raised its benchmark interest rate four times since the start of December 2005.

``There are many signs that Spanish real-estate prices are decelerating,'' said Jacobo Blanquer, who helps manage the equivalent of $579 million at Nordkapp Inversiones SV in Madrid. ``We recommend getting out of the real-estate sector.''

Spanish house prices have increased at an average annual rate of 15 percent since 1999, according to savings bank La Caixa, fueled by low interest rates.

Prices will climb between 5 percent and 10 percent this year, slowing from 13 percent in 2005, as some foreign investors look for cheaper properties in other countries, Metrovacesa estimates.

House-price gains slowed to 10.6 percent in the 12 months through June from 13.7 percent a year earlier, according to Spain's housing ministry. Land prices have fallen 0.4 percent since the second quarter of last year

[romablade1889]

I'll have a look at Martin SA's Qui Rating and Amadeus Rating when I go back to work Monday...

[romablade1889]

I'll have a look at Martin SA's Qui Rating and Amadeus Rating when I go back to work Monday...