“Villar Mir Boosted Interest in Colonial”

11/04/2014 – Expansion

Colonial´s headquarters are filled with enthusiastic mood as Pere Viñolas, the CEO and Juan José Brugera, the president, not only have managed to raise private and banking capital and therefore save the real estate company but also attracted attention of investors.

“One year ago our situation was tragic”, says Viñolas. (…) In short, Colonial will enlarge its capital by €1.266 million and save SFL. Also, it raised the new syndicated loan from €600 million to €1 billion that will allow it to pay-off the debt expiring this year. (…).

“For many years, Colonial has been working on its repute hanging out in global property village and (…) the recent purchase of 3.8% stake by Qatar wealth fund has been one of the fuits”.

Moreover, the CEO stresses that “thanks to Villar Mir other investors started to trust in the project again”. (…)

Since Villar Mir, Mora Banc and Santo Domingo group announced the capital injection, shares of the real estate firm tripled their price. However, Viñolas vows for “analysis of Colonial´s shares instead of its Stock value”. (…).

 

 

Original article: Expansión (by Marisa Anglés)

Translation: AURA REE

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