Villar Mir Will Keep an Eye on Colonial From His Seat at the Board

Businessman Juan Miguel Villar Mir wishes to monitor his investment in Colonial from closer distance. Therefore, he filed for a seat at the managing board table in the real estate firm.

The president of OHL, vice-director of Albertis (19% stake) and second main shareholder in Santander will attend Colonial´s administrative board meeting to take place on Wednesday.

Grupo Villar Mir owns 24.4% of the real estate firm, followed by Qatar´s sovereign fund Qatar Investment Authority (QIA), Coral Partners (9%), Grupo Santo Domingo (7.5%), Mora Banc (7%) and Fidelity (3%), to highlight.

After the entrance of new investors, the managing board´s membership slightly changed, however the former executives of Colonial, Juan José Brugera and Pere Viñolas, are expected to stay. Presently, the real estate company is chaired by Luis Maluquer Trepat, Carlos Fernández-Lerga Garralda, Javier Iglesias de Ussel and firm HDA Conseil on behalf of Crédit Agricole.

The new shares of Colonial deriving from the €1.266 million capital enlargement started to sell on the stock exchange yesterday. They kicked-off with a 10.68% depreciation at 0.594 Euros a share.

Original article: Expansión (by M. Anglés & C. Morán)
Translation: AURA REE

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