Gabetti rises to 65% of Tree Real Estate News Online
FTA
Gabetti In contrast, registering a rise of 0.92% and made up to 15.31 cents. Yesterday Gabetti Property Solutions has solved the joint venture agreement signed with UBH in 2008 and acquired full control of Tree Real Estate. Tree Real Estate is the holding company for more than 1,600 governmental agencies active in real estate franchising, present throughout the country to which heads the activities carried out under the brand names Gabetti Franchising, Professionecasa and Grimaldi.
The transaction is part of the process of growth of the Group Gabetti aims to strengthen the local presence to develop and implement the historic core business model of real estate services.
The transaction includes the acquisition of full governance of the three real estate franchise networks, and increased participation in Tree Real Estate from 51% to 65%. Contextually Gabetti has decided to reduce its stake in Tree Finance from 49% to 35% in order to focus all energies on the business of real estate services. The agreement for settlement of two joint venture provides for the granting of a put option in favor of Gabetti Property Solutions on the remaining 35% stake in Tree Finance exercisable from 31 July 2014 at fair market value reported on 31 December 2010 and the granting of a symmetrical ' UBH put option in favor of the remaining 35% stake in Tree Real Estate exercisable from 31 July 2014 at fair market value reported on 31 December 2010.
The acquisition of majority stake in Tree Real Estate, 14%, and the divestment of Finance Tree, 14%, is a condition precedent for the passage of homology
considered an agreement to restructure debts UBH under Article .182 of a LF
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