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UBS sells 3 pct of Spain's Acerinox on behalf of Del Pino family
July 3, 2014 / 3:57 PM / 3 years ago

UBS sells 3 pct of Spain's Acerinox on behalf of Del Pino family

MADRID, July 3 (Reuters) - Investment bank UBS said on Thursday it was selling around 3 percent of Spanish steel maker Acerinox to institutional investors via an accelerated bookbuild.

The bank said it was selling the stake on behalf of Casa Grande de Cartagena, a holding company of one of Spain’s richest families and founders of construction and airport management company Ferrovial - the Del Pino family.

The stake of just under 8 million shares is worth around 103 million euros ($141 million) at Thursday’s closing prices, according to a Reuters calculation. The deal has yet to be priced. ($1 = 0.7331 Euros) (Reporting By Sonya Dowsett; Editing by Julien Toyer)

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