Debt-laden Spanish property company Inmobiliaria Colonial is to sell a 84.4% stake in France's Societe Fonciere Lyonnaise (SFL) to reduce its EUR 9bn debt. The Spanish group announced at end March that it has hired an international bank to begin the disposal process.The sale could fetch up to EUR 3bn.
As Ares completed a €325 mln French logistics acquisition from Blackstone, another French portfolio came onto the market.
