Realia shareholder Carlos Slim will increase stake to 33.2% ahead of public tender after capitalising Sareb loan – reports
Realia Business [BME: RLIA] shareholder Carlos Slim (via his vehicle Inversiones Carso) will increase his stake in the Spanish real estate company to 33.2% prior to the launch of a 100% takeover bid in the form of a public tender for shares he does not already own, Cinco Dias reported.
A similar report also appeared in Expansion.
According to the unsourced Spanish-language reports, Slim will convert into equity a portion of a EUR 50m loan Realia had with Spanish bad bank Sareb that he (Slim) acquired last December.
Slim will swap EUR 29m of the loan for 14.07m shares of Realia, equivalent to 2.96% of the company’s equity, the report said. The operation is due to be closed today (15 February), the Expansion report noted.