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Lar España Considers Divesting Some of its Shopping Centres

Despite everything, the company claims to have a solid balance sheet and it says that it would only sell assets for the right price.

Anec Blau Castedefells
Anec Blau shopping centre in Casteldefells, owned by Lar España.

The Socimi Lar España is analysing the possibility of divesting several of its real estate assets with the intention of strengthening up its balance sheet and reinforcing its cash position. This will only happen, according to its Director, Miguel Pereda, speaking to Expansión, if the market pays the right price.

The announcement from the Lar executive comes after the presentation of the results for the first half for 2020, where the Socimi performed very positively, with a 24% increase in revenues. The bad news was the variation in the value of its real estate assets, which revealed a decrease of 55.87 million euros, dragging down the final result for the year to losses of 28.71 million euros.

Read the full article in Spanish.

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