The firm divulged this information this week to CNMV, explaining that this measure, adopted by the Board of Administration, will be put to vote at the next Shareholders meeting, on the 29th June, Spanish Real Estate have revealed. .
The way to become a socimi, “Does not involve any change in the group’s corporate strategy nor the business plan,” and, to the contrary, imply that both profit and cash flow will ‘significantly’ increase,’ the same source states, predicting a positive impact of 72 million euros on the company funds, which will allow the shrinking of 2016 provisions from 2016.
Colonial aims to adopt this regime retroactively from the 1st January 2017.