Spanish property group Inmocaral is planning to list between 15-20% of its French unit Societe Fonciere Lyonnaise (SFL) on the Paris stock exchange to ensure more liquidity, Spanish daily La Gaceta reported, citing ceo Mariano Miguel. The company will place the stake to abide by new French regulations stating that the core shareholder of any listed property company may not control more that 60%. After last year's takeover of peer Colonial, Inmocaral controls close to 90% of SFL.

Spanish property group Inmocaral is planning to list between 15-20% of its French unit Societe Fonciere Lyonnaise (SFL) on the Paris stock exchange to ensure more liquidity, Spanish daily La Gaceta reported, citing ceo Mariano Miguel. The company will place the stake to abide by new French regulations stating that the core shareholder of any listed property company may not control more that 60%. After last year's takeover of peer Colonial, Inmocaral controls close to 90% of SFL.

Miguel said Inmoracal is looking for a European real estate firm to merge with SFL. However, he said the group has not found any appealing opportunities in France or in the UK 'We've looked thoroughly in the French and British markets, but we haven't found any company that brings us the profitability we're looking for,' Miguel stated. He added that in the event of any merger taking place, the deal would be paid with SFL shares, but without Inmocaral losing control of the company.