Colonial is expected to raise capital in the range of €180 million to merge with Axiare, on which it launched a takeover bid, resulting in the company with the largest portfolio of office buildings in Spain. It will issue 19.27 million new shares to materialize the integration of Axiare, holding 13.2% of socimi's capital.
According to the Spanish Real Estate, the company will submit this extension to the general meeting of shareholders on May 24. At the same time, the real estate company will also propose the appointment of a new dominical counselor on behalf of the Financcess group, Colonial's first Mexican shareholder, which now has two representatives on the board of directors.