Inmobiliaria Colonial to acquire seven Madrid office buildings for €351.7 million (ES)

Inmobiliaria Colonial SA said it has agreed to acquire seven Madrid office buildings from Mutua Madrilena for the total amount of €351.7 million.

The property group said it will pay cash for 50.6% of the deal, valued at €178.1 million, while the remaining 49.4% will be financed through a €3.68 million new share issue at €47.16 per share.

The capital hike - subject to shareholders' approval - will be subscribed to by Mutua Madrilena, which will hold 6.2% of Colonial following the deal.

Source: Inmobiliaria Colonial

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