Vallehermoso, which is partly owned by BSCH, is to create a property investment company after gaining the approval of the Spanish Stock Market Commission (CNMV) and the Economics Ministry.
The new company hopes to have assets worth €120m (Pta20bn) in the next three years. Having been created with a social capital of €18m (Pta3bn), it also wants to have 100 business partners by the end of the year. BSCH will be in charge of managing the properties, which will be leased.
Expansión, 14 November 2000 p8
