16/04/2014 – Expansion
Qatar sovereign wealth fund has disbursed another €175 million in Colonial. Last week, the fund bought a 3.8% stake in the Spanish real estate firm for €20 million from Goldman Sachs. Now, it decided to expand the holding to 7.8% by paying additional €25 million. The seller is still unknown but the chances are that Credit Agricole finally conducted its long-billed divestment.
In parallel, Qatar invested €150 million in SFL (Société Foncière Lyonnaise), Paris-based company possessing 18 buildings in the French capital and held by Colonial in 53 percent.
According to sources with knowledge of the operation, it was also Crédit Agricole who sold 8.55% of SFL to Qatar. Apart from the French bank, SFL is held by Royal Bank of Scotland (RBS) (7.5%), Unibail Rodamco (7.2%), Orion III (6.4%) and Reig Capital (4.4%).
Last week, Colonial started the €1.266 million capital enlargement process and for that reason its shares´ price fell yesterday by 12.91% to 0.607 euros a share.
Original article: Expansión (by Marisa Anglés)
Translation: AURA REE