Acosta Verde, SAB de CV completed the acquisition of Promecap Acquisition Company, S. A. B. de C. V. (BMV:PMCPAC A).
October 04, 2020
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Acosta Verde, SAB de CV agree to acquire Promecap Acquisition Company, S. A. B. de C. V. (BMV:PMCPAC A) on August 22, 2020. Under the terms of transaction, Acosta Verde, SAB de CV will issue 1 share in exchange of every share of Promecap. The shareholders of PAC will receive Series A Shares at the rate of 1 Series A Share in exchange for each PAC share they hold .Post completion, Acosta Verde, SAB de CV will be surviving entity and Promecap Acquisition Company will be merged entity. The Shares will be listed on the Mexican Stock Exchange, SAB de CV (the BMV), from the date of their listing. This transaction is subject to approval by the National Banking and Securities Commission.
Acosta Verde, SAB de CV completed the acquisition of Promecap Acquisition Company, S. A. B. de C. V. (BMV:PMCPAC A) on October 5, 2020. As a result of the merger, Acosta Verde, SAB de CV became a newly formed publicly listed company on the Bolsa Mexicana de Valores trading under the ticker GAV.
Acosta Verde SAB de CV is a Mexico-based company which operates in the Real Estate Rental, Development & Operations Industry. The corporate purpose of the Company is to participate as a partner, shareholder or investor in companies, associations, trusts or entities of any kind, as well as selling, assigning, transferring, negotiating, pledging, encumbering or otherwise disposing of said shares, partnerships or other interest. The Company operates in developing, operating, managing, assigning, marketing and carrying out any activity related to real estate projects for sale or rent and wide range of buildings, including, without limitation, industrial, residential, commercial, offices, hotels, and mixed use, whether in Mexico or abroad.