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GBS: “The restructuring of Colonial shows a changing trend in the Spanish property sector”

MADRID | By Ana Fuentes | As the Spanish property sector becomes fashionable again, we set our eyes in one of the most-commented moves these days: listed developer and owner Colonial’s €1.26m capital increase and €1bn debt restructuring. President of GBS Finanzas Pedro Gómez de Baeza managed to form a complex puzzle including the entrance of billionaire industrialist Juan Miguel Villar Mir with a 24.4% stake. Mr Gómez de Baeza joins us to talk about an “extremely challenging” operation that began in 2008 and only bore fruit at the third attempt, but also shows a changing trend.