Vitruvio Real Estate SOCIMI, S.A. (BME:YVIT) agreed to acquire Consulnor Patrimonio Inmobiliario Sa from Consulnor S.A. on December 14, 2016. As per the terms of the deal, Vitruvio will pay the consideration in form of shares. The operation is funded through a €16.29 million capital increase in Vitruvio, through the issue of 1,629,907 new shares of the same class as those already in circulation with a nominal value of €10. The resulting company will be merged into Vitruvio Real Estate and retain its name post acquisition. As part of the agreement, the Board of Directors of the resulting company will result in the entry onto the Board of four new members. Director General of Consulnor, Pablo de la Iglesia, along with José Antonio Torrealba and Sergio Álvares will joins the Board of Directors of Vitruvio. José Ignacio Iglesias will be the representative of the Voluntary Social Welfare entity Araba Eta Gasteiz Aurreski Kutxa II. The deal is subject to approval by the shareholders of Vitruvio Real Estate and Consulnor Patrimonio Inmobiliario, which is approved subsequently in general shareholders meeting held on June 1, 2017. CBRE acted as advisor to Consulnor. As of June 9, 2017, Vitruvio Real Estate SOCIMI, S.A. will absorb Consulnor Patrimonio Inmobiliario SA through a non-monetary capital increase.