French property company Gecina said on Friday it is suspending a plan agreed last year to separate from its major shareholder Metrovacesa. The French SIIC said the decision was promted by significant changes in the shareholding structure of the Spanish group, which owns a 27% stake in Gecina. Debt-laden Metrovacesa announced last week that its creditor banks were taking control of around 65% of the firm.
As Ares completed a €325 mln French logistics acquisition from Blackstone, another French portfolio came onto the market.
