Merlin €920m Capital Raise: The Advisors
Freshfields Bruckhaus Deringer has advised Merlin Properties SOCIMI, Spain’s largest real estate group, on a new share issuance totaling over €920 million. The shares were sold to institutional investors through an accelerated private placement and will be listed on the Madrid, Barcelona, Bilbao, and Valencia stock exchanges.
The transaction received strong support from Merlin Properties’ two main shareholders and its two executive directors, who agreed to irrevocable subscription commitments proportional to their current holdings.
Merlin Properties plans to use the capital increase proceeds to invest in the second phase of its data center strategy, which involves developing an additional 200 MW of capacity in Bilbao, Barcelona, and Lisbon. The company is already the market leader in the Iberian data center sector, with 60 MW of operational capacity.
The Freshfields team was led by partner Armando Albarrán (pictured left) in Madrid, supported by partner Alfonso de Marcos (pictured right) and counsel Joe Amann. The transaction team also included senior associate Chelsey Kaka and associates Javier González and Miguel Ángel Calvo.
Linklaters Capital Markets team also participated in the transaction advising the banks in the €920 million capital increase by Merlin Properties through an accelerated bookbuilding process with a team composed by partners Federico Briano and Jorge Alegre, managing associate Álvaro Albors and associate Luis Rodrigo.
