Franklin Templeton Increases Its Stake In Lar España

20 March 2015 – Expansión

The fund Franklin Templeton has increased its stake in the Socimi Lar España to more than 15%, according to the CNMV’s records. Specifically, the investor, which with its 14.9% stake was already the largest shareholder of the Socimi chaired by José Luis del Valle, has increased his participation to 15.07%, after purchasing a package of 126,537 shares.

Other shareholders of Lar España include the fund manager Pimco, which owns 12.5% of the capital; the fund manager Bestinver, with 4.8% and Ameriprise Financial with 3.7%. These investors spent €400 million on the IPO.

In 2014, Lar España recorded turnover of €7.2 million from rental income. Its market capitalisation amounts to €399.3 million, after its share price fell by 0.26% yesterday to €9.974.

Original story: Expansión (by R.R.)

Translation: Carmel Drake