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Spain's Colonial to buy 100% of French unit SFL for 1 bln euros

MADRID, June 3 (Reuters) - Spain’s Inmobiliaria Colonial on Thursday said it would submit a voluntary takeover offer of around 1 billion euros ($1.21 billion) to acquire its entire French subsidiary Societe Fonciere Lyonnaise (SFL).

Colonial said its offer would be open to all minority shareholders of SFL and was in any case aiming to reach between 95% and 100% of the French company.

The Spanish real estate firm, specialised in office space, currently has an 82% stake in SFL.

$1 = 0.8249 euros Reporting by Clara-Laeila and Nathan Allen; editing by Jesús Aguado and David Evans

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