Sept 11 (Askume) – U.S. 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 unnamed market sources.
LSEG data shows Castlelake owns 79% of the shares and has a market value of about 845 million euros ($933 million). The stock is currently trading at its highest level in more than two years.
Cinco Dias said the sales process is still in its initial stages.
Given the rules of the Spanish market, potential buyers of the shares would have to make an offer to acquire all of the company’s shares, the newspaper said.
Founded in 2005, Castlelake currently manages approximately $22 billion in assets on behalf of more than 200 institutional investors.
Castlelake and Aedas did not immediately respond to requests for comment.
(1 USD = 0.9056 EUR)
