Joseph Lewis Increases His Stake In Colonial To 5.08%

16 September 2015 – El Mundo

The English businessman Joseph Lewis has increased his shareholding in Colonial from 3% to 5.08% and so his stake is now worth €91.3 million on the basis of the company’s current market price.

Lewis increased his stake in the real estate company to more than 5% on 10 September 2015, i.e. on the day after Grupo Villar Mir put 10% of the share capital it owned in the real estate company up for sale, according to the records of Spain’s National Securities and Exchange Commission (CNMV).

Specifically, the British investor acquired 66.13 million shares in Colonial, representing 2% of its share capital, worth around €37 million. Following this investment, Lewis owns 162.16 million shares in the real estate company in total, which represents a 5.08% stake.

The business tycoon hereby strengthened his position as a shareholder of the real estate company, in which he first acquired a stake in January 2015. Grupo Villar Mir continues to be Colonial’s largest shareholder, with 14.5% of the share capital.

Amongst Colonial’s other important shareholders are the Qatar sovereign fund, with a 13.3% stake; the Andorran bank MoraBanc with 7%; the Colombian group Santo Domingo (6.8%) and several other investment funds, whose stakes range between 1.9% and 5%.

The real estate company closed trading on Monday with more losses, making it the third consecutive day of decreases since 9 September, when at the close of business, Villar Mir announced its divestment, for €0.56 per share.

During the first trading session of the week, the company’s value decreased by 1.75%, taking its share price to €0.563, in line with that selling price.

Original story: El Mundo

Translation: Carmel Drake

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