Spain's Prisa makes 242 mln euros on office sales
MADRID, May 20 (Reuters) - Spanish media group Prisa (PRS.MC: Quote, Profile, Research, Stock Buzz) said on Tuesday it had agreed to sell and lease back three buildings in a deal worth 242 million euros ($377 million) in net capital gains.
Prisa, which publishes Spanish daily El Pais, said it would use the proceeds of the sale to pay off debt.
It sold the three office buildings to Longshore, a company wholly owned by Drago Real Estate Partners, for 315 million euros. The deal was brokered by property services firm Richard Ellis. (Reporting by Martin Roberts; Editing by Braden Reddall) ($1=.6423 Euro)
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