Grupo Gigante Announces Merger of Subsidiaries of Its Real Estate Business

Gigante Grupo Inmobiliario merges its real estate subsidiaries into one company, Controinmuebles, following agreements reached at the shareholders' meeting.

Gigante Grupo Inmobiliario merges its subsidiaries into Controinmuebles for increased efficiency and strategic focus. Photo: Gigante Grupo Inmobiliario

01/05/2022

Grupo Inmobiliario has announced the merger of its real estate subsidiaries into a single company following agreements reached at the Annual General Shareholders' Meeting held on December 15th. According to the company's statement, a total of 42 subsidiaries will become part of Controinmuebles, aiming to consolidate them into a single entity.

"Controinmuebles will become the owner of the assets and liabilities of the merged companies, without any reservation or limitation," the company specified. Additionally, Controinmuebles will hold all rights, obligations, shares, and warranties arising from contracts, agreements, and operations conducted by the merged companies. "Controinmuebles acquires and assumes the entirety of the obligations and liabilities of the merged entities up to the date, which constitutes the mechanism for the extinction of their respective liabilities," it added.

This move is part of the optimization plan previously announced by Gigante Grupo Inmobiliario. "Since 2019, with the aim of remaining competitive in the real estate sector, GGI's management has conducted an analysis of its corporate, organizational, and operational structure."

Read the full article in Spanish

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