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News Breaks | | | | December 3, 2012 | | 07:15 EDT |  | ICA | Javer and Empresas ICA announce agreement to combine housing companies in Mexico
Servicios Corporativos Javer and Empresas ICA announced that they have entered into a definitive agreement to combine their homebuilding assets in Mexico, creating the second largest homebuilder in the Infonavit system. Javer will acquire the assets and operating liabilities related to 20 affordable housing development projects being developed by ICA through its ViveICA subsidiary in exchange for newly issued shares of stock representing a 23% ownership interest in Javer, plus the refinancing of 600M Pesos of associated project debt. | |
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