Neinor Said to Show Interest in Rival Spain Developer Aedas

Neinor Homes SA is in talks to acquire a significant stake in rival Aedas Homes SA, a potential deal that could create Spain’s biggest developer with a combined market value of about $2.6 billion.

Neinor said in a statement Tuesday that it’s in discussions with Aedas’ main shareholder Castlelake LP over a possible purchase, confirming an earlier report by Bloomberg News. The private equity firm owns 79% of Aedas. Apollo Global Management Inc. is working with Neinor to provide funding for the deal, according to people familiar with the matter, who asked not to be identified as the details aren’t public.