FCC & Bankia Bound to Close the Realia & Globalvia Holdings Sales

15/09/2014 – Cinco Dias

FCC and Bankia give finishing touches to the sales of two companies that they control together: real estate firm Realia and infrastructure concession group Globalvia, sources close to the operations reported.

The divestments form a larger strategic plan of the builder which strives at cleasing its balance sheets and come back to benefits. When it comes to Bankia, the entity is obliged to sell all industrial stakes in its possession.

While the sale of Realia is almost sealed, negotiations on Globalvias holding have also reached a pretty advancedstage.

The first received several bids submitted by investment funds and Colonial controlled by the Villar Mir Group.

A few funds and infrastructure operators have expressed their interest about Globalvia.

Realia owns a real property of 419.000 square meters in total, including office buildings, such as one of the well-known Torres Kio towers on the Plaza de Castilla square in Madrid (pictured on the right) or the Torre Realia BCN skyscraper in Barcelona, as well as several retail centers.

Moreover, the company disposes of a housing development and land portfolio composed by 1.9 million square meters in plots and 700 dwellings.

FCC and Bankia hold 36.88% and 24.95% in Realia respectively. In the first quarter of 2014, the firm lost €18.5 million and earned €40 million on rentals.

Speaking of the portfolio of Globalvia, it includes 22 turnpikes crossing Spain, Portugal, Ireland, Mexico, Costa Rica and Chile, as well as seven subway and tram lines in Madrid and Barcelona, the airport in Chiles Santiago, two hospitals, two commercial ports and two marinas. The two stakeholders possess 50% of the company each.

FCC expects to obtain €300 million for the two stakes. The builder has already sold its shares in Cemusa, FCC Logista, Proactiva and SmVak.

In case of Bankia, the entity has shed holdings in IAG, Indra, Mapfre, NH Hoteles, Iberdrola and Inversis.


Original article: Cinco Días (after E.P.)

Translation: AURA REE