Spain's Colonial French arm in talks to sell SICC de Paris stake

MADRID Thu May 29, 2014 4:53am EDT

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MADRID May 29 (Reuters) - Spanish property company Colonial said on Thursday that its French unit Societe Fonciere Lyonnaise (SFL) is in exclusive talks to sell its 29.6 percent stake in SICC de Paris to France's Eurosic.

As part of a six-month exclusive agreement valid until July 5, Eurosic has committed to buying the stake in the property firm SICC de Paris at 24.22 euros per share, discounting any future dividend, Colonial said in a regulatory filing. (Reporting by Tracy Rucinski; Editing by Fiona Ortiz)

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