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.
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