San Jose sells 20% of Parquesol for EUR 50m

Argentinean businessman Diego Eduardo León has invested EUR 50 mln to buy a 20.25% stake in Spanish property company Parquesol.

The entrepreneur has bought 50 million shares from Parquesol's largest shareholder San Jose. The sale price was EUR 6.21 per share, which represents a discount of about 25% to the company's average share price last week. Following the deal, San Jose will control around 50% of Parquesol, while bank Caja Castilla La Mancha is the firm's third largest shareholder.

Diego Eduardo Léon is vice-president of the Argentinean group Carlos Casado, in which San José bought a majority stake in 2007.