Celsa Sells Land In Santander To Ratisbona For €1.1M

3 May 2016 – Expansión

Celsa is selling land in Cantabria. The steel group owned by the Rubiralta family, which began negotiations to refinance its bank debt (€2,700 million) a few weeks ago, is finalising an agreement to sell off some land owned by its subsidiary Global Steel Wire (GSW) in Santander. The land in question is assigned for non industrial use. The plot is located on the Nueva Montaña industrial estate and has a total surface area of 3,167 m2.

According to sources close to Celsa, the sale is expected to be completed before the end of the month, for a consideration of €1.1 million. The purchaser is Ratisbona, a German company – with a subsidiary in Spain – which is dedicated to the promotion, construction and sale of warehouses assigned to supermarkets and retail parks, and which has carried out projects for chains such as Aldi, Lidl, Mercadona and Aki.

Background

This is not the first time that Celsa is selling land in Santander. In 2014, it sold another plot in Nueva Montaña, where the chain Bricomart built a centre. In 2015, the group commissioned Aguirre Newman to sell a portfolio of real estate assets owned by GSW in Santander, Castellbisbal and Sant Andreu de la Barca (Barcelona) and Toledo.

In the context of its negotiations with the banks, Celsa has submitted an industrial plan to its lender entities, which features a lamination factory in Bayone (France) as its star project, with an investment of up to €60 million.

Original story: Expansión (by J.Orihuel)

Translation: Carmel Drake

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