Feb. 5 (Bloomberg) -- Metrovacesa SA, Spain’s largest real- estate developer, said its French assets were temporarily frozen by a Paris court after it failed to complete a property purchase.
The court blocked the assets Jan. 13 after Metrovacesa pulled out of the 85 million-euro ($109 million) acquisition of a building in France, according to Ursula Guerra, a spokeswoman for the Madrid-based company. Metrovacesa owns 27 percent of Gecina SA, the largest publicly traded owner of Paris office buildings.
“Metrovacesa has been informed about the measure, but we hope that the temporary embargo will be lifted in coming days,” Guerra said yesterday in a telephone interview. Guerra was responding to questions about the case.
