By Nathan Allen
Citigroup Inc. (C) and UBS Group have completed a private placement of 4 million shares in Spain's Aena, generating proceeds of 696.5 million euros ($827.8 million), according to a filing submitted Wednesday to Spain's market regulator.
The two banks said they carried out the placement on behalf of TCI Fund Management and Talos Capital Designated Activity.
Investors paid EUR174.12 per share to participate in the placement, equivalent to a 3% discount on Tuesday's closing price.
The block of shares represents about 2.7% of Aena's total share capital and, following the placement, TCI and Talos Capital together hold an 8.29% stake in Aena, according to the filing.
Aena, which manages 46 airports in Spain and 16 abroad, is majority owned by the Spanish state.
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