11 November 2015 – Cinco Días
Realia has approved the launch of a capital increase amounting to €87 million, which the real estate company’s majority shareholder, Carlos Slim, has promised to participate in, according to the company.
By virtue of the operation, the real estate company will issue 150 million new shares at a price of €0.58 per share, the same price that Slim paid in the takeover (OPA) through which he took control of the company.
With this operation, Realia is seeking to strengthen its financial structure ahead of the company’s debt restructuring program. In total, Realia’s debt amounts to €1,067 million, of which half is due to mature within the next few years.
Original story: Cinco Días
Translation: Carmel Drake