Lualca Sells 2% Of Its Stake In Realia Before Hispania’s Takeover Bid Is Approved

29 January 2015 – Expansión

The real estate company Lualca has reduced its stake in Realia to less than 3% (specifically, to 2.94%), after selling 2% of its capital.

The company, led by Luis Canales Burguillo, first invested in the real estate company Realia in January 2008, when it acquired a 5.02% stake. Lualca paid €88.37 million at the time, which represented a valuation of €6.35 per share.

Yesterday, the company’s share value stood at €0.605, still a long way off of the price per share (€0.49) specified in the takeover bid that Hispania launched over 100% of Realia’s capital at the end of 2014.

FCC continues to be Realia’s largest shareholder, with a 36.89% stake, followed by Bankia, with 24.95%. Grupo Prasa also holds less than 3%.

Original story: Expansión (by R. Ruiz)

Translation: Carmel Drake

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