Fidelity Fund Manager Buys 2.6% of Colonial

4/02/2014 – Expansion

New shifts in Colonial´s capital holding. International fund manager Fidelity has informed the CMNV about becoming a holder of 6,09 million assets of the real estate Colonial.

Fidelity will hold 2,69% of the company´s capital. Colonial pursues at capital enlargement in order to convert Villar Mir, its main shareholder, into the leading one. Colonial is obliged to meet the requirements stated in the pact with OHL´s owner who promised to inject €300 million before March 31st. Among them, there is the refinancing of Colonial´s sindicate debt, expiring at the end of the year, possessed by the Canadian fund Brookfield.

Crédit Agricole Bank (owner of 12,1% of Colonial) is negotiating a new loan of €700 million.

Colonial´s shares fell by 1.61% to 1.1 Euros.


Original article: Expansión (R. Ruiz)

Translation: AURA REE