Link Securities | The company has officially responded to the Government’s proposal to withdraw the tax regime for REITs, the newspaper elEconomista.es reported yesterday. According to Juan José Brugera, Chairman of the company, “the changes that some are proposing are very serious. The REITs regime is nothing more than the adaptation to the Spanish case of the rules established in international markets. These types of modifications turn the Spanish market…

Link Securities | The REIT approved yesterday at the General Shareholders’ Meeting the entry of CriteriaCaixa in its capital through a capital increase of €622 million, Expansión reports. Pere Viñolas, CEO of Colonial, told shareholders that the company’s indebtedness will be consolidated at the levels achieved with this capital injection (leverage of 36.3% vs. 39.9% previously), while he expects earnings per share and the dividend to grow. With this capital…

Link Securities | Many international investors take a dim view of the formation of hard core shareholder groups in Spanish companies as they believe that shareholders with a minority stake can exercise almost total control thanks to their weight on the boards of directors, as reported today by Expansión. Thus, several large US funds, with the support of their corporate governance advisors (proxy advisors), are going to vote against Colonial’s…