Spanish real estate company Prasa has bought a 5% stake in peer Realia for EUR 90 mln, according to a statement sent to the Spanish stock market regulator CNMV. Prasa bought the shares for EUR 6.32 each, below Realia's closing price on Wednesday of EUR 6.48.
Spanish real estate company Prasa has bought a 5% stake in peer Realia for EUR 90 mln, according to a statement sent to the Spanish stock market regulator CNMV. Prasa bought the shares for EUR 6.32 each, below Realia's closing price on Wednesday of EUR 6.48.
Realia, which is controlled by bank Caja Madrid and developer Fomentos de Construcciones y Contratas (FCC), owns properties across Spain, France, Portugal and Poland. Last June it raised about EUR 783 mln through an initial public offering. The commercial property company placed about 44% of its share capital on the market for a price of EUR 6.50 each per share. Prasa recently bought a 3% of Spanish property giant Metrovacesa.
