Vinte entered into an agreement to conduct a tender offer for up to 100% of Javer’s shares

Mexico City, Mexico, May 20, 2024 – Vinte Viviendas Integrales, S.A.B. de C.V. (“VINTE”) (BMV: VINTE), announces that today it entered into an agreement with (i) 63.97% of the shareholders of Javer (the “Sellers”) and (ii) with Servicios Corporativos Javer, S.A.B. de C.V. (“Javer”) (BMV: JAVER*), by which it agreed with the Sellers to carry out a public acquisition offer (“OPA”) by Vinte (directly or indirectly through its affiliates) through the Bolsa Mexicana de Valores, S.A.B. de C.V. with the intention of acquiring up to 100% of the shares representing Javer’s capital stock at a set price of $14.9355 pesos per share. Likewise, the Sellers agreed to accept the tender offer, and to transfer and sell 100% of their shares representing Javer’s capital stock to Vinte through the OPA.


In the event that the remaining shareholders of Javer also decide to sell their shares through the OPA, Vinte would be paying the equivalent of a total of up to $4,290 million pesos for 100% of the outstanding shares of Javer’s capital stock.


Vinte will call a General Shareholders’ Meeting to submit the OPA for approval. In addition, in order to pay the OPA price, Vinte will also submit for approval at the General Shareholders’ Meeting, the issuance and subscription of new shares, as well as the execution and disbursement of long-term financing negotiated with institutions with which Vinte has been working for more than 15 years.


The agreements are subject to the approvals of the Comisión Federal de Competencia Económica (COFECE), the Comisión Nacional Bancaria y de Valores (CNBV) and Vinte’s General Shareholders’ Meeting, among other conditions precedent customary for this type of transaction, as set forth in the respective transaction agreements.


Javer has a history of more than 50 years in the Mexican market. In 2023 it sold 12,201 homes and had revenues of $8,904 million pesos. It has presence in eight Mexican states: Nuevo León, Jalisco, Estado de México, Quintana Roo, Querétaro, Aguascalientes, Tamaulipas and Puebla.


Sergio Leal Aguirre, CEO of Vinte, commented, “This agreement, and the consummation of the OPA, represents a great opportunity to increase the supply of sustainable housing in the country, especially in low income and middle-income segments. Every year, around 700 thousand Mexicans join the labor market and require new housing. Vinte and Javer would be in a stronger position to meet this demand, with greater access to institutional, sustainable and long-term capital, while operating at a greater scale, diversifying geographically, and expanding the number of clients with Infonavit, Fovissste and mortgage banking mortgages”.


Both companies are committed to transparency and will work closely with regulatory authorities to formally conclude the tender offer process. Vinte will provide further details to the market once the necessary approvals have been obtained.


This statement is for informational purposes only and does not constitute or form part of an offer to acquire securities, nor an invitation, nor a requirement to make an offer, to subscribe or purchase securities, nor does it constitute the terms and conditions, in whole or in part, for the conclusion of any contract or commitment of any kind. The terms and conditions of the transaction and the tender offer will be described in the acquisition information brochure to be published by Vinte at the appropriate time.

 

Miranda Newswire – Full Press Release: Download PDF

Investor Relations Contact Details

Tel: +52 (55) 5010 7360

CFO: domingo.valdes@vinte.com

Finance: gonzalo.pizzuto@vinte.com

Website: https://vinte.com

 
Forward Looking Statements
“This document contains certain statements related to the comprehensive overview of “Vinte Viviendas Integrales” (Vinte) regarding its activities to the present day. The information included in this document is a summary of information regarding Vinte which is not intended to cover all related information about Vinte. The information contained in this document has not been included to provide specific advice to investors. The statements contained herein reflect the current views of Vinte concerning future events and are subject to certain risks, uncertainties, and assumptions. Many factors could cause future results, performance, or achievements of Vinte to differ from those expressed or implied by such forward-looking statements, including, among others, economic or political changes and global business conditions, changes in exchange rates, the overall state of the industry, changes in housing demand, raw material costs, etc. If one or more of these risks occur, or should the underlying assumptions prove to be incorrect, actual results may vary materially from those described herein as anticipated, believed, estimated, or expected. Vinte does not intend nor assume any obligation to update the statements presented in this document.”
About Vinte
Vinte is a vertically integrated sustainable Mexican home builder with a clear focus on profitability. For more than 21 years Vinte has been developing sustainable housing complexes for families of entry-level, middle, and upper-middle incomes. Vinte’s primary focus is on improving quality of life, for which it has obtained multiple national and international recognitions. Throughout its history, Vinte has developed more than 58 thousand homes in 8 Mexican states, mainly in the central region of the country. Vinte has also achieved a high level of loyalty among its customers and wide brand recognition where it operates. Vinte initiated its digital strategy in 2017 focused on Proptech with more than 5,000 homes sold through digital media and 36% of total sales in the last 12 months. Vinte has a highly qualified management team, with more than 32 years of experience in the Mexican housing sector.

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