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Realia Completes €89M Capital Increase

8 January 2016 – Expansión

Realia has successfully completed an €89 million capital increase to finance a debt repayment, which falls due on 29 January 2016. Carlos Slim, the controlling shareholder of the real estate company, took ownership of the shares that were left over following the conclusion of the preferential subscription period.

Specifically, Slim acquired shares in the capital increase corresponding to his 25.1% stake in Realia, which at the price set for the operation (€0.58 per share) resulted in an investment of €22.32 million. Moreover, the Mexican tycoon bought another 430,365 shares, which were left over following the conclusion of the preferential subscription period, which involved the investment of a further €250,000. FCC, the majority shareholder of Realia, with a 36.8% stake, also subscribed to its corresponding proportion of the capital increase.

Original story: Expansión

Translation: Carmel Drake