Spain's troubled property company Colonial said on Tuesday that French investment bank Calyon is exercising its call option to buy part of Colonial's stake in units Fomento de Construcciones y Contratas (FCC) and Societe Fonciere Lyonnaise (SFL). Calyon has bought a 3.39% stake in FCC and a 8.8% interest in SFL. Colonial said it has cut its debt by EUR 273 mln by selling the stakes.
As Ares completed a €325 mln French logistics acquisition from Blackstone, another French portfolio came onto the market.
