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Urbas plans to increase its capital in €39M
30 May 2019 | Vanessa Sousa

In order to capitalise its debts, Urbas Grupo Financiero should increase its capital in 39.47 million euro.

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According to Spanish newspaper Expansión, fund Larisa Inverpromo, one of its creditors, was already informed of the operation which should pay the 21 million euro in debt.

With this operation, the company will be able to «consolidate its balance, lower its liability and cancel its financial debt through the subscription of shares from Urbas», explains Juan Antonio Acedo Fernández, the group’s CEO, to the same newspaper.

This will be one of the main themes to be addressed at the next shareholders’ general meeting which will take place on the 28th of June.

This company – specialised in managing terrains as well as real estate development – currently has a portfolio estimated at 600 million euro.