Carmel Drake

The entity chaired by Ana Botín has reduced the value of the 49% stake that it controls in the company to 1.074 billion euros from its initial value of 1.701 billion euros.

The Canadian investment group has expressed an interest in acquiring shares in the Socimi and even launching a takeover bid. Merlin's share price closed 10% higher on Tuesday.

Spain's banks granted more than one million moratoriums on mortgage and consumer loans until the end of July, with a total balance pending repayment of 45 billion euros.

Last year, Amancio Ortega's investment company increased its indebtedness with financial institutions to exceed the €1 billion threshold for the first time.

The US fund has been expanding its investments in the real estate sector and anticipating new market niches, such as debt portfolios, and the logistics and residential rental segments.

The project will involve the construction of a VPO residential building that will include commercial premises, parking spaces and storage rooms. It will be located on Avenida Ramón Pastor, 12.

The company obtained a net profit of 37 million euros in 2019, up by 156.3% compared to a year earlier, and turnover of 39 million euros.

The number of people unemployed fell by 89,849 in July, down by 2.3%, the largest drop in this month since 1997. Construction registered 6,556 fewer unemployed people, a drop of 2.15%.