Acciona mandates Morgan Stanley to sell EUR 1.5bn property division
Acciona, the listed Spanish infrastructure group, has mandated Morgan Stanley to sell its property division, El Confidencial reported, citing unnamed sources. The US investment bank has been asked to look at options for the unit, including listing the assets as a SOCIMI (listed real estate investment company) or selling them to one or more buyers, the report said.
The assets have a book value of EUR 1.042.5bn, although, according to other sources, could be worth up to EUR 1.5bn, the report said.
El Confidencial