Vinte to acquire Javer for MXN4.29bn.

Vinte, a homebuilder specializing in affordable, sustainable housing for low- and middle- income families in Mexico, offered to acquire Javer, a Mexico-based company primarily engaged in the homebuilding sectors, for MXN4.29bn. "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 700k 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," Sergio Leal Aguirre, Vinte CEO.