Spanish bank Caixa Cataluna has acquired the remaining 49% stake it did not own in troubled real estate developer Alcala 120. The transaction is taking place as a debt-for-equity swap and totals some EUR 410 mln. The stake was sold by Grupo Silver Eagle, according to Spanish news agency EFE.
The Grand Hotel Imperiale in Forte dei Marmi, Italy has been sold to UAE-based real estate company Emaar Properties, owner of renowned buildings such as the Burj Khalifa and the Dubai Mall.
