4/06/2014 – Expansion
The negotiations between the Spanish real estate firm and allied Blackstone and Ivanhoé Cambridge (part of Caisse de Dépôt et Placement du Québec) are at a very advanced stage. The nearly 27% share´s value is estimated at €1.8 billion. The operation will involve suspension of a part of the debt of Metrovacesa, borrowed for purchase of Gecina.
Last year, the lending institutions sold the real estate firm´s debt to a hegde fund and several vulture funds.
Original article: Expansión (by R. Ruiz)
Translation: AURA REE