The Sanahujas, the troubled Spanish family which last year was forced to swap debt for a 65% stake in Metrovacesa, has sold around EUR 200 mln of property assets to the Madrid-based property company through its Sacreasa holding unit. According to Spanish news agency EFE, the transaction was aimed at repaying loans agreed in the past years with the property company. The family is said to have sold landmark assets including the Finestrelles project as well as the Las Arenas shopping centre in Barcelona.
The Sanahujas, the troubled Spanish family which last year was forced to swap debt for a 65% stake in Metrovacesa, has sold around EUR 200 mln of property assets to the Madrid-based property company through its Sacreasa holding unit. According to Spanish news agency EFE, the transaction was aimed at repaying loans agreed in the past years with the property company. The family is said to have sold landmark assets including the Finestrelles project as well as the Las Arenas shopping centre in Barcelona.
In February the Sanahujas handed over a 65% stake in the company to six banks after failing to meet their debt payments. The Spanish family is retaining an option to buy back the stake for the same price by 2012.
