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

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)

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