May 7, 2018 / 12:26 PM / 20 days ago

BRIEF-Spain's Merlin will sell Testa stake at IPO for right price

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)

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