Qatar becomes Colonial’s largest shareholder with 20% of the shares

 Qatar becomes Colonial’s largest shareholder with 20% of the shares


The operation is structured through a non cash capital increase of 53.523.803 shares from Colonial, representing 10,5% of the company’s capital after the operation, for which QIA will deliver 7.136.507 shares from SFL, representing 15,34% of the french affiliate’s capital. Apart from that, there will be a swap of shares between Colonial and QIA with QIA exchanging 400.000 shares from SFL representing 0,86%, for 3.000.000 treasury shares from Colonial and the trade of 2.787.475 shares from SFL, representing 5,99% of its capital  for which Colonial will pay 203 milllio euro to QIA.

The total amount of the operation is 718 million euro, the largest corporate operation over a REIT in Spain. About a fourth of the operation corresponds to Colonial’s payment in cash and their own shares  which facilitate the optimisation of the operation and the largest part through a capital increase from Colonial subscribed by QIA.

«The operation has two important perspectives: on one hand, it allows the simplification of the group’s share structure, which is makes a lot of strategic sense; on the other hand, the terms of the operation are very advantageous for Colonial, whose key variables improve significantly» explains Pere Viñolas, Colonial’s managing director.

After this operation, Colonial’s second largest shareholder is Mexican group Finacces, with 18,4%, and after them, with  6,6%, comes group Aguila, from Santo Domingo.

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