May 7 (Reuters) - Merlin Properties CEO Ismael Clemente tells a shareholder meeting:
* Merlin will sell its entire 17 percent stake in rental company Testa at its initial public offering for a reasonable price
* Reasonable price would be close to Testa’s net asset value
* Testa’s total net asset value is around 1.83 billion euros ($2.18 billion) Further company coverage: ($1 = 0.8401 euros) (Reporting by Madrid Newsroom)
