MADRID Jan 20 Spanish billionaire Amancio
Ortega, the founder of Zara owner Inditex, is among the
investors eyeing the sale of property firm Realia, two
sources with knowledge of the matter said.
The owners of Realia - indebted Spanish builder FCC
and nationalised lender Bankia - hired Goldman Sachs
in November to find a buyer for their 58 percent stake in the
real estate company, worth about 145 million euros ($197
Ortega, who has been an active investor in property both in
Spain and abroad, is studying an investment in the company
through his Pontegadea investment vehicle, the sources said on
Monday, commenting on a report on website Vozpopuli.
No one from Pontegadea was immediately available for
The internet portal said Ortega is particularly drawn by
property assets owned by Realia's French unit, Siic de Paris
Ortega was behind one of the biggest property deals in Spain
in recent years, the 400 million-euro purchase of Madrid's Torre
Picasso in 2011 from Realia shareholder FCC. But he has not been
known to invest in any listed companies other than his own firm
Inditex, the world's largest retailer.
Realia, which refinanced an 847 million-euro syndicated loan
in July, had net debt of 2.182 billion euros at the end of
Investors are showing increasing interest in Spain's real
estate market. House prices look close to reaching bottom after
falling around 40 percent since 2007.
($1 = 0.7376 euros)
(Reporting by Jose Elias Rodriguez; Writing by Tracy Rucinski;
Editing by Larry King)