Metrovacesa's majority shareholder, the Sanahuja family, is to give creditor banks a 54% stake in the Spanish real estate giant in a debt-for-equity deal. The Sanahujas, owner of more than 80% of Metrovacesa, said earlier on Tuesday in a regulatory filing that they were in 'advanced' talks with the banks. Although the banks were not named it is believed they include Banco Santander, Banco Bilbao Vizcaya Argentaria, Banco Espanol de Credito, Popular and Banesto and unlisted savings banks La Caixa and Caja Madrid.
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