SPAIN - Warburg Pincus acquires stake in Pinar

Real estate group Pinar has sold 18% of its shares to Warburg Pincus for an undisclosed sum. After the transaction, the company's founding family will hold 55% of the company, while other shareholders Caja de Avila and Caja de Segovia will hold a 10% stake each and bank Caja del Círculo Católico de Burgos will retain a 6.89% shareholding. Pinar was established in 1980 and centers its business in residential and holiday developments. It reached consolidated revenues of EUR 236.2 m in 2005.