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31 May 2012
Frankfurt am Main, Germany
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20 June 2012
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Rivero, Prasa to sell Spanish Sanyres homes group
Spanish care homes group Sanyres, set up by private family firm Grupo Prasa, has hung out the For Sale sign. The firm, which owns 19 senior and medical care facilities, has commenced contacts with potential buyers for sale of all or part of the company. The group started out with ambitious plans to become the leader in its sector with an invoicing level of e350m per year and 20,000 beds. However it has never registered a profit due to insufficient occupancy levels, and registered losses of e5.7m in 2008, e7m in 2007, e5.7m in 2006 and e3.1m in 2005. Shareholders include Caixa Catalunya, CajaSur, Gecina and Bami. The last two, headed by Gecina's embatteld chairman Joaquin Rivero, entered the group at the start of 2009