Blackstone & Natixis Enter Gecina Challenging the Spanish Justice

31/01/2014 – Cinco Dias

Blackstone, one of the biggest private equity company in the world, acquired 22,9% of Gecina´s capital, the largest French real estate firm. The assets taken over by Blackstone have been in hands of Joaquín Rivero and Bautista Soler, that together owned 31% of Gecina. The U.S. firm bought 14,4 millon assets of Gecina, equal to 22.98% of the capital. Also Ivanhoe, Caisse de depot et placement du Quebec fund is taking part in the transaction.

French bank Natixis has acquired another 4,9% of Gecina, also from the two businessmen. (…) Together, Blackstone and Natixis possess 27.8% of the company, apparently more than Metrovacesa, owning 27%.

The acquisition has been approved by a court in Luxembourg, once rejected by a Spanish legal institution. (…).

Original article: Cinco Días (Alberto Ortín Ramón)

Translation: AURA REE

54