Qatar Sovereign Wealth Fund Increases Its Share in Colonial to 13%

13/05/2014 – Expansión 

The sovereign wealth fund from Qatar raised its holding in the real estate firm to 13.1%. According to Colonial´s current stock market price per share, the fund paid around €239 million for the stake.

Now, it will be the second main shareholder just behind Villar Mir who has previously injected fresh capital to the ailing company in order to allow it to cut in debt and welcome new stakeholders.

Right now, Qatari fund owns 416 million shares corresponding to 13.1% of the stake. After the capital enlargement, other Colonial´s investors hold as follows: Coral Partners 9.48%, Santo Domingo 7.5%, MoraBank 7.05%.

After the ampliation and changes in its holding, Colonial will focus on exploitation of its office building portfolio including property in Madrid, Barcelona and Paris.

Today Juan Miguel Villar Mir joins the managing board of the real estate company.

 

 

Original article: Expansión (after Europa Press)

Translation: AURA REE

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