Swiss Banks Place Bets on Spanish REITs

21/08/2014 – Cinco Dias

According to information provided by Spain´s Stock Market Commission (or CNMV), UBS AG has enlarged its stake at Hispania Activos Inmobiliarios to 4.157%.

Specifically, until now the Swiss bank has possessed 2.98%. The new holding corresponds to 2.28 million shares of the Socimi (a Spanish REIT firm).

In accordance to the current market prices, the stake is worth €22.77 million. Hispania´s shares climb by over 2.5% and now stand at 9.95 Euros each.

In the Socimi´s holding one may find such prominent investors as George Soros (16.7%), John Paulson (18.3%), Cohen & Steers (4.47%), Tamerlane (5.99%) or Credit Suisse (4.49%).

The last has recently added to its stake at Merlin Properties. The Swiss entity controlls now 7.9 million shares – equal to a 6.16% holding – of the freshly listed Socimi. In line with the market prices, the stake represents an amount of €74.2 million.

Apart from Credit Suisse, Merlin was chosen by UBS (11.6%), Market Field (10.6%), EJF Capital (7%) and Goldman Sachs (5%).

 

Original article: Cinco Días 

Translation: AURA REE

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