June 16, 2024

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MRV's subsidiary (MRVE3) in the United States has sold two more projects and put BRL 200 million in its pocket.

MRV’s subsidiary (MRVE3) in the United States has sold two more projects and put BRL 200 million in its pocket.

A AHS Residence, Vice MRV (MRVE3) In the United States, the state of Florida closed sales of two more developments – one of the hottest markets for real estate on American soil. In total, the company will pocket $ 35.4 million for the Pine Groves and Princeton Groves complexes; At the current exchange rate of BRL 5.66, the transaction is approximately BRL 200 million.

This year alone, AHS has sold five more upgrades, all in Florida or Miami; According to MRV, there are two other premises for sale in the United States, with a general sales value (PSV) of approximately US $ 105 million – based on comparisons, Pine Groves and Princeton Groves had US $ PSV. 95 million.

Controversy over MRV and the American Dream

MRV announced in September 2019 that it would acquire 51% of AHS Residential, ranging from $ 220 million to $ 225 million.

However, the initial proposal for integration caused a lot of controversy. In the original version, the Brazilian company was 51% in AHS. The Maine family, which had 94.5% of the capital, will be reduced to 46.3%.

Minority shareholders of MRV complained that through the Brazilian developer the Maine family would become direct and indirect shareholders of AHS, as well as questions about the lack of coordination between operations, which could lead to structural interest conflicts.

After consulting, The company decided to redo this plan to avoid a potential interest conflict. In the new format, the MRV will integrate Rubens Menin’s participation in the AHS. In other words, the participation of all entrepreneurs will take place through the MRV.

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MRVE3 below

At B3, ON stocks of MRV (MRVE3) had the weakest performance: they had accumulated 37% year-on-year, closing at $ 11.40 in trading on Wednesday (22). In general, the construction and development sector has been experiencing difficulties in the stock market, considering the potential for a rise in real estate credit prices with higher celiac rates.