Published:

GEO Announces the Sale of Its Participation in Hipotecaria Su Casita

MEXICO CITY, July 24 /PRNewswire/ -- Corporacion GEO S.A.B. de C.V. (BMV: GEOB / ADR Level I CUSIP: 21986V204 / Latibex: XGEO), GEO, one of Mexico's leading low-income housing developers, has announced the sale of its 6.94% stake in Hipotecaria Su Casita, subsequent to the offer made by Caja Madrid.

The total amount to be received by GEO from this transaction should amount to approximately $400 million pesos. The funds obtained through this transaction should be received between October and November 2008, and will be used to reduce debt and improve GEO's Financial Structure.

About Corporacion GEO S.A.B. de C.V.

Corporacion GEO is a leading housing developer inMexico and one of the most important inLatin America. The Company is engaged in all aspects of design, development, construction, marketing, sales and delivery of low- income, middle-class and residential housing developments inMexico. With operations in 33 cities across 15 states, GEO is one of the most geographically diversified homebuilders inMexico. Since its inception GEO has sold more than 400,000 homes which currently provide housing to 1,600,000 people. More information can be found at www.casasgeo.com

SOURCE Corporacion GEO S.A.B. de C.V.

Tags: Real Estate, Banking and Finance,

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