Spain's Realia agrees sale of SIIC de Paris stake to Eurosic

MADRID Tue May 20, 2014 3:18am EDT

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MADRID May 20 (Reuters) - Spanish real estate group Realia said on Tuesday it had reached an exclusive agreement with French listed investment group Eurosic to sell its stake in another property vehicle, SIIC de Paris.

Realia, which is controlled by Spain's FCC and lender Bankia, said it had agreed to sell its 59 percent stake in SIIC de Paris at 22 euros per share to Eurosic, in a deal to be signed by June 6.

Realia said the offer for SIIC de Paris, once finalised, would push Eurosic to launch an offer for all of the company under French law.

(Reporting by Sarah White, Editing by Paul Day)

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