Nozar, the investment vehicle of the Nozaleda family, is selling a 7% stake in Colonial to the banks of the troubled Spanish company. Nozar, which has a 12.25% stake in Colonial, is selling the assets to cut down a EUR 460 mln of debt it holds with Natixis, RBS, Gaesco, Caixa Galicia, and JP Morgan. The Nozaleda's are retaining a 5% stake in Colonial, Europa Press reported on Friday.
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.
