Reuters logo
Spain's Realia says to take a loss on French unit stake sale
May 20, 2014 / 8:37 AM / 3 years ago

Spain's Realia says to take a loss on French unit stake sale

MADRID, May 20 (Reuters) - Spain’s Realia said on Tuesday that the sale of its 59 percent stake in French property investment group SIIC de Paris would reduce its net debt by just over 1 billion euros ($1.37 billion) and involve a loss.

The Spanish real estate company said earlier on Tuesday it had agreed to sell the holding to France’s Eurosic.

Realia said it would bank 559 million euros from the sale, a discount to the 641-million-euro book value of the stake and implying a loss of 82 million euros. ($1 = 0.7289 Euros) (Reporting by Sonya Dowsett, Writing by Sarah White, Editing by Paul Day)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below