Metrovacesa's chairman Joaquin Rivero has contacted Inmocaral's boss Luis Portillo and Prasa's Jose Romero as he seeks new investors for Spain's largest property company, Spanish newspaper Cinco Dias has reported. Rivero is willing to sell part of his stake in Metrovacesa to the other real estate investors to convince them to take part in the new share issue approved by Metrovacesa's board last year.
Morgan Stanley spin-off, Proprium, made a 20-times multiple on its €65 mln equity investment in 2007 in Motel One.
