• Transaction / Assets
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Popular Sells Banco de Andalucía’s HQ In Sevilla For €25M

18 February 2016 – Expansion

New real estate fever is making a large number of transactions boom in Andalusia, especially assets on sale for years. According to EXPANSIÓN, the latest major deal has been featured by Banco Popular, to close a sale agreement of the historic headquarters of Banco Andalucía in Sevilla for EUR 25 million.

The Andalusian company was taken over by Popular, which already had a 80% capital stake in 2009. The remaining stake was largely in the hands of Solis family. 
Two years after this move, the bank chaired by Ángel Ron cleared out the building, located in the heart of Seville. Specifically, it is located at Calle Fernández y González 4 y 6.

The asset has 7,000 square meters distributed in basement, ground floor and six more floors in height. The project of the new owner is opening a hotel, as well as marketing  other street level premises. 
According to sources close to the deal, the purchase has been mediated by Drago Capital on behalf of a company whose identity has not been given. This firm was founded by Oleguer Pujol and Luis Iglesias, currently under investigation for tax fraud and money laundering due to its relationship with the plot of the Catalonian president´s family. One of its most important transaction was the purchase of Santander branch network for 2,000 million.

Original story: Expansion (by Lydia Velasco)

Translation: Aura Ree

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