El Corte Ingles, a department store group, agreed to acquire a 22% stake in Cartera de Valores IASA, a holding company, from Dimas Gimeno, its former chairman, and his mother, María Antonia Álvarez, for €145m ($170m). "The operation is established on the price of €145m and has been proposed by the selling party. The board authorized the operation, provided that the acquisition of the shares is carried out free of the burdens that currently weigh on them and the price is confirmed," El Corte Ingles.