New Spanish group will have EUR 8-10 bn in assets

Spain's Inmobiliaria Colonial will have assets of EUR 8-10 bn when the merger with Grupo Inmocaral is finalised, Spanish business paper 'Expansion' has reported chairman Luis Portillo Munoz as saying. Grupo Inmocaral, which focuses mainly on business parks, office buildings and commercial premises located in Madrid and Barcelona, took over its peer Colonial last September. Inmobiliaria Colonial, with assets of EUR 6 bn prior to combing with Inmocaral, is an important player in the office-space rental segment in Madrid and Barcelona, as well as Paris through its ownership of France's SFL.

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