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28 May 2012

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Spain's Colonial places Brugera in to run French SIIC SFL

Juan José Brugera, chairman of struggling Spanish listed property group Colonial, has been named chairman of its French subsidiary Société Foncière Lyonnaise, replacing Yves Mansion who is stepping down. Nicolas Reynaud will remain managing director and chief financial officer. Colonial's majority stake in SFL is one of its most valuable assets. SFL invests in office and retail exclusively in Paris and has a portfolio valued at e3.3bn at end-2009.

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