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Investors interested in Santander’s share of Metrovacesa
24 October 2019 | Vanessa Sousa

Several investors showed their interest in real estate developer Metrovacesa to bank Santander, which controls 49.4% of the company’s capital. BBVA is Metrocavesa’s other great shareholder with 20.8% of the shares.

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A possible joint operation is now on the table, according to what market sources revealed to newspaper Cinco Días. If the operation is successful, this would be a way for Metrovacesa – which has been listed on the Stock Exchange since last February – to gain liquidity for its activity, at a moment when real estate development is gaining a new dynamic in Spain.

To sell some of its shares would be, on the other hand, a way to meet the measures imposed by the Banco de España concerning real estate investment. However, the same market sources also revealed that this is not a priority operation for the bank.