MADRID, Jan 23 (Reuters) - Spain’s Banco Popular has sold its entire 4.6 percent stake in Colonial during a restructuring of the property firm’s capital, a source familiar with the situation said, confirming a report in newspaper Expansion.
The stake is worth around 12.5 million euros. Banco Popular declined to comment.
The restructuring marks a turnaround for Colonial after Spain’s 2008 real estate market crash and, with the entry of new investors, may be a sign that the property sector is recovering. (Reporting By Elisabeth O‘Leary; editing by Tom Pfeiffer)