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13 February 2012

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Spain's Colonial may pare debt by e3bn after deal, talks under way on disposals

Listed Spanish property group Colonial says it may be able to reduce its debt burden by as much as e3bn after forging a pact with major creditors. And the chairman of one of its main holdings, the French SIIC Société Foncière Lyonnaise, told PFE that talks are already under way with institutional investors on cutting the Colonial stake in his company.

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