* Follows Gecina's Spanish shareholders' bankruptcy filing
* Blackstone, Ivanhoe own 64.7 pct of Spanish owners' loans
* Seen raising likelihood of taking equity stake in Gecina
PARIS, March 11 Investment fund Blackstone
and Canadian real estate fund Ivanhoé Cambridge said they
had acquired 64.7 percent of the loans held by two Spanish
owners of Gecina, potentially paving the way to take
an equity stake in the French real estate group.
Gecina, a French real estate investment trust, has been in
the spotlight since two Spanish investment companies - Alteco
and MAG Import - owning 31 percent of the French company filed
for bankruptcy in October.
Blackstone has bought 160 million euros ($207.7 million) in
Gecina bank loans in partnership with Ivanhoé Cambridge, which
is a part of Quebec's public pension fund, according to a report
in Les Echos newspaper on Monday morning.
The funds own around 1 billion euros out of 1.6 billion in
outstanding debt, the paper said, raising the chances they will
convert some into shares.
Blackstone and Ivanhoe's statement on Monday did not confirm
the figures given by Les Echos. Gecina was not available to
Gecina manages a roughly 11 billion euro portfolio of
offices, residential and student housing as well as health
facilities, and is France's biggest office landlord.