Bankinter is finalising the creation of the largest logistics socimi in the Spanish market. The firm sees itself as the ‘virtual winner’ of the bids to acquire Montepino and CBRE Global Investors’ giant logistics portfolio, valued at between one and two billion euros. Although the winner has not yet been announced – expected by the end of this week or early next week – Bankinter believes that it will prevail in the process against the other finalist, Brookfield, according to El Confidencial.
The financial institution has reserved funds worth €60 million in the accounts of its private banking clients, with whom it jointly makes these investments. However, Bankinter has also committed to investing €40 million in the future socimi, which guarantees it will be the vehicle’s primary investor. It will also have a guaranteed presence in the decision-making bodies and veto rights. Bankinter’s proposal envisages that the promoters of Montepino will continue as shareholders with an investment of between €20 million and €30 million and maintain their position in the socimi alongside the bank.
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