Spanish businessman Enrique Banuelos is planning to sell up to 15% of his shareholding in the Spanish developer Astroc, Spanish newspaper El Pais reported on Wednesday. The entrepreneur currently owns 31% of the company's share capital. The paper also said that Banuelos first decided to sell the stake in July after Astroc's share price fell sharply.
Spanish businessman Enrique Banuelos is planning to sell up to 15% of his shareholding in the Spanish developer Astroc, Spanish newspaper El Pais reported on Wednesday. The entrepreneur currently owns 31% of the company's share capital. The paper also said that Banuelos first decided to sell the stake in July after Astroc's share price fell sharply.
Astroc plans to merge with Landscape Promocions, after buying 49.9% of Banco Sabadell 's real estate subsidiary for some EUR 987 mln in October last year. Astroc is also to merge with Rayet Promocion. Astroc bought a 54% stake in that company for EUR 350 mln, also in October 2006.