Realia to Approve Swapping 4.6% Stake For Debt With Sareb

25/06/2014 – Expansion

At the last shareholders´meeting the decision on capital enlargement by swapping the debt owed to Sareb for a stake has been approved.

The bad bank has got an opportunity to receive a 4.6% stake in the real estate company controlled by FCC and Bankia in the framework of capitalizing the €60.19 million indebtness transferred to Sareb by Bankia.

The fresh equity injection could be conducted in February 2015. Then, the entity chaired by Belen Romana would buy €14.42 million worth of shares.

Realia has just sold its stake at French SIIC de Paris, while Bankia and FCC search for investors who would buy their shares in the real estate firm.

 

Original article: Expansión

Translation: AURA REE

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