3/03/2014 – Cinco Días
Colonial transferred its real estate branch Asentia to consultant company Eneas, chaired by José Luis Contreras, an ex-executive of Altamira (Santander´s RE platform) with view to restructuring and maintaining the company´s liability.
Also, MainSpring, represented by César Goyache, ex-executive of Sareb and Alvarez & Marsal, has taken part in the transaction.
According to the sources with knowledge of the operation, Crédit Agricole and Colonial hold 20% of Asentia´s capital each.
At the extraordinary meeting in Barcelona in January, the managing board of Colonial agreed upon a €1.000 million capital enlargement, due to its €1.759 million debt expiring this year.
By now, Asentia has been put up for sale with debt equal to €1.428 million. (…).
Original article: Cinco Días (Alberto Ortín)
Translation: AURA REE