Luis Portillo, head of Colonial, Inmocaral and Societe Foncieres Lyonnais, is already looking beyond his latest acquisition in Spain. The entrepreneur told new agency Europa Press on Thursday that he is seeking acquisitions in the Netherlands, Germany and the UK.

Luis Portillo, head of Colonial, Inmocaral and Societe Foncieres Lyonnais, is already looking beyond his latest acquisition in Spain. The entrepreneur told new agency Europa Press on Thursday that he is seeking acquisitions in the Netherlands, Germany and the UK.

Portillo made the statement on the same day Inmocaral announced to the Spanish market regulator CNMV its takeover bid for peer Riofisa. Grupo Inmocaral is offering EUR 2 bn, or EUR 44.31 per share, for the Spanish shopping-mall owner. In Portillo's vision, Inmocaral, Colonial, and Riofisa will become part of a new Spanish conglomerate valued at some EUR 12.5 bn.

On Thursday Inmocaral also committed itself to EUR 7.2 bn of loans aimed to refinance debt and fund Riofisa's buyout. Riofisa's main shareholders, the Losantos family, has already agreed to sell its 50% stake. The loans will be provided by Calyon, Eurohypo, Goldman Sachs and Royal Bank of Scotland Group.

Grupo Inmocaral acquired Colonial last year for EUR 3.76 bn and in January 19, 2007 it agreed to buy Riofisa. Inmocaral also owns the French company Societe Fonciere Lyonnais as well as a 15% stake in the construction company FCC.