Dec. 16 (Bloomberg) -- Inmobiliaria Colonial SA, a Spanish real estate company, said lenders exercised options to buy stakes in Fomento de Construcciones y Contratas SA and Societe Fonciere Lyonnaise SA as part of debt renegotiations.

Goldman Sachs Group Inc. and Eurohypo AG each bought a 3.396-percent stake in Spanish builder FCC, Colonial said in a regulatory filing late yesterday. Eurohypo also bought a 7.25- percent stake in Lyonnaise, the Barcelona-based company said.

The real estate company said Dec. 2 that it gave lenders the option to buy the company’s holdings in FCC at 30 euros per share and Societe Fonciere Lyonnaise SA at 35 euros per share. Options are derivatives that give the buyer the right to buy or sell stock at a set price on or by a given date.

To contact the reporter on this story: Gareth Gore in Madrid ggore1@bloomberg.net

Last Updated: December 16, 2008 01:29 EST