PropertyEU

Colonial shares soar as banks take control of Portillo's stake

By A staff reporter 2008-04-28T00:00:00

Inmobiliaria Colonial's shares soared in stock market dealings Monday after Luis Portillo, Colonial's largest shareholder, sold about 25% of Colonial's share capital to his creditor banks. Portillo has transferred a total 403 million shares, or a 24.58% stake, to a group of eight banks led by Banco Popular - which ...

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