Realia Offers Swapping Debt For a 4.6% Stake to Sareb

22/05/2014 – La Informacion

 At the nearest stakeholders´meeting, Realia is going to plead permission for a fresh capital injection in case when Sareb decides to exercise the option it has to enter the holding of the real estate firm, taking a 4.6% share in exchange for the €60.19 million debt inherited by the bad bank from Bankia.

If Sareb accepts the proposal, the operation would be carried out in February 2015 and then Realia could enlarge its capital through new shares issue for €14.42 million.

The real estate firm has just left from France by selling its branch SIIC de París. Two majority shareholders of Realia, FCC and Bankia, are seeking investors who would buy their stakes in the company.


Original article: La Información

Translation: AURA REE