US fund Castlelake considering sale of stake in Spain's Aedas, Cinco Dias reports
Sept 11 (Reuters) -U.S.-based investment fund Castlelake is considering selling its majority stake in Spanish real estate group Aedas Homes AEDAS.MC, Spanish newspaper Cinco Dias reported on Wednesday, citing unidentified market sources.
Castlelake owns a 79% stake with a market value of about 845 million euros ($933 million) as the shares are trading at their highest levels in more than two years, LSEG data shows.
The sale process is still at a preliminary stage, Cinco Dias said.
Given Spanish market rules, a potential buyer for the stake would have to make an offer for all of the company's stock, the newspaper noted.
Castlelake was founded in 2005 and currently manages assets worth nearly $22 billion on behalf of over 200 institutional investors.
Castlelake and Aedas did not immediately respond to requests for comment.
($1 = 0.9056 euros)
Reporting by Matteo Allievi, editing by Inti Landauro and Jason Neely
Latest News
Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.
All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.
Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.
