Uría Menéndez Advises JSS on EUR 245m Takeover Bid for Árima

JSS Real Estate SOCIMI has announced a takeover bid to acquire 100% of the shares of Árima Real Estate at EUR 8.61 per share, valuing the deal at EUR 245 million. This offer is contingent upon two key approvals: the consent of JSS Real Estate SOCIMI, S.A.’s shareholders, as mandated by article 160.f) of the Spanish Companies Law, and the approval from Árima shareholders holding more than 50% of its share capital.

JSS Real Estate Socimi, chaired by José María Rodríguez Ponga, is the Spanish subsidiary of the Luxembourg investment fund JSS Global Real Estate Fund, managed by the Swiss private bank J. Safra Sarasin. It’s a real estate investment company listed on BME Growth, engaged in the acquisition and management of urban real estate for lease. Árima is a socimi founded in 2018 by Luis Alfonso López de Herrera Oria after his previous socimi, Axiare, was taken over by Inmobiliaria Colonial a year earlier.

Uría Menéndez has advised on this significant transaction. The legal team was led by Enrique Nieto, partner in Capital Markets in Madrid. The team includes Gorka Atutxa (managing associate), Sofía Terol (senior associate), Blanca Muñoz (associate), Ana Fernández (associate), Adolfo Suárez (graduate), and Irene Laso (graduate), all from the Capital Markets division in Madrid.

Additionally, the Real Estate team is represented by partners Diego Armero and Yasser-Harbi Mustafa, alongside managing associate Andrea Sandi. The Tax team includes Víctor Viana (partner), Adrià Riba (counsel), and Santiago Tórtola (associate), all based in Madrid.