Millenium Hotels Real Estate I SOCIMI, S.A. (BME:YMHRE) agreed to acquire Alcaidesa Golf S.L.U from Costain Alcaidesa Limited for €15.2 million on December 10, 2019. In addition, Costain is also seeking a potential purchaser of its 624-berth Marina Concession. The Disposal and the potential disposal of the Marina Concession is part of Costain's strategy to divest its non-core business assets in Spain. The Disposal, combined with the potential sale of the Marina Concession, will result in an aggregate loss on disposal and fair value asset impairment of £8.9 million. This will be included within the Group's 2019 financial statements as a one-off non-cash charge. Prior to the Disposal, the Group has reorganized the assets held by its non-core business in Spain by way of an intra-group reorganization. Under the Reorganization, Costain Alcaidesa acquired the entire issued share capital of Alcaidesa Servicios, S.A. from Alcaidesa Holding. Alcaidesa Servicios operates a marina in Southern Andalusia, close to the Gibraltar border. As at December 31, 2018, the Group's carrying value of the gross assets of Alcaidesa Holding and Alcaidesa Golf S.L.U amounted to €23.2 million (€20.8 million) and the businesses recorded a loss before tax of €0.6 million (£0.5 million) for the 12 months to December 31, 2018. The loss on the Disposal is £4.0 million and the fair value asset impairment of the Marina Concession is £4.9 million (based on the estimated potential sale value of £5.9 million). The transaction is subject to the satisfaction of certain conditions to completion, which expected to be satisfied shortly. The deal is expected to be closed on this week. Costain will use the proceeds of the Disposal for general working capital purposes. Millenium Hotels Real Estate I SOCIMI, S.A. (BME:YMHRE) completed the acquisition of Alcaidesa Golf S.L.U from Costain Alcaidesa Limited on December 11, 2019.