Metrovacesa: The new group will have a net asset value of almost 5 billion euros gross annual revenue of 450 million euros, according to Euro News. Metrovacesa 2.1 billion euros of assets will be split between Merlin, subsidiary Testa Residencial and a new company controlled by Metrovacesa shareholders. The agreement has the backing of Metrovacesa shareholders Banco Santander
, BBVA and Banco Popular which will hold a combined 31.2 percent stake in Merlin after he merger. Santander said in a separate statement that it would own 21.95 percent of Merlin and 46.21 percent of Testa Residencial. Copyright 2016 Reuters. The merger still needs to be approved by each company shareholders and given the green light by competition regulators, the companies said. euronews provides breaking news articles from Reuters as a service to its readers, but does not edit the articles it publishes. (news.financializer.com). As reported in the news. Tagged under Metrovacesa, company shareholders topics.