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
