Spanish property and construction group FCC Inmobiliaria has acquired a further 13.1% stake in peer Realia from CEC, for a total investment of €84 mln.
The acquisition brings FCC's stake in Realia to just over 50%.
According to a statement to the Spanish stock market watchdog CNMV, the companies are planning to merge their businesses into a single real estate group going forward.
Realia owns roughly €1.9 bn of assets while FCC, which is majority owned by Mexican billionaire Carlos Slim, owns directly or through subsidiaries around €1 bn of properties in Spain.
