14/05/2014 – Expansion
Two main stakeholders of Realia, Bankia and FCC have temporarily suspended their struggle to sell 62% they own in the real estate and focus on the sale of Realia´s French diamond branch, Siic de París.
With the sale coming off, FCC and Bankia could earn €850 million. Offers submitted for the purchase ask for a mere 5% discount on all Siic de París´s assets value, estimated to be worth over €1.5 billion.
Realia bought the French branch in 2006 for €300 a share and subsequently took control over 86.3% of the stake.
Original article: Expansión (by R. Ruiz & C. Morán & G. Martínez)
Translation: AURA REE