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31 May 2012
Frankfurt am Main, Germany
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- Property Debt Breakfast
20 June 2012
London
Spain's Realia to cut stake in SIIC de Paris
Listed Spanish real estate group Realia Patrimonio is to reduce its stake in French REIT SIIC de Paris to enable it to recover REIT status. Realia holds more than 84% of SdP but the SIIC 4 regime in force since 2009 requires a majority shareholder to hold no more than 60% so that it lost its SIIC status and the associated benefit of tax-free dividends at the start of 2010.