GE Real Estate Iberia, the property arm of General Electric in Spain, said on Friday it is pulling out of the bidding for troubled Spanish real estate firm Colonial. In a statement to the Spanish stock market regulator CNMV, GE said that the two companies 'were not able to reach an agreement' on the conditions for due diligence. As a result, Colonial has declined to open its books to the US giant.
Swiss real estate group Investis has boosted its real estate holdings with the CHF 139 mln (€149 mln) purchase of prime residential properties in Vaud canton.
