Spanish real estate company Fadesa Immobiliaria has sold hotels and land plots to firms linked to Fadesa's former chairman Manuel Jove for EUR 118 mln. In a statement to Spanish bourse regulator CNMV, Fadesa said six hotels across Spain were sold for just over EUR 30 mln and the land was valued at more than EUR 86 mln.
Spanish real estate company Fadesa Immobiliaria has sold hotels and land plots to firms linked to Fadesa's former chairman Manuel Jove for EUR 118 mln. In a statement to Spanish bourse regulator CNMV, Fadesa said six hotels across Spain were sold for just over EUR 30 mln and the land was valued at more than EUR 86 mln.
Jove is a billionaire industrialist from Galicia in the north of Spain. He entered the real estate business in 1980 and listed Fadesa in April 2004. He sold his controlling interest in Fadesa last year but has continued to invest in the banking, property, textile and energy sectors.
Banco Bilbao Vizcaya Argentaria informed the CNMV last month that Jove had acquired a 5% stake, making him the second largest shareholder in the bank.
