The Socimi Torre Rioja, specialising in office buildings, has acquired a stake in the share capital of Banco Alcalá, an entity owned by Crèdit Andorra. In fact, the real estate company has purchased 9% of the bank.
Specifically, the operation has been carried out through a capital increase and has seen the firm pay out 6.12 million euros to finance the bank’s growth in the Spanish market, according to El Confidencial. As such, the capital increase values Banco Alcalá at 68 million euros.
Read the full article in Spanish.