Reuters logo
Spain's Popular sells 4.6 pct stake in Colonial
January 23, 2014 / 7:02 PM / 4 years ago

Spain's Popular sells 4.6 pct stake in Colonial

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)

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