(Corrects to remove superfluous letter in sixth paragraph and "editing by" in signoff)
MADRID, Sept 15 (Reuters) - Spain's third largest bank Popular (POP.MC: Quote, Profile, Research, Stock Buzz) said on Monday that property company Colonial's (COL.MC: Quote, Profile, Research, Stock Buzz) core bank shareholders support its debt refinancing agreement.
The troubled property firm said on Monday it had reached an agreement with its creditor banks to finance a total of about 7 billion euros of debt.
In a statement, Popular said it and fellow banking core shareholder La Caixa no longer form part of the core shareholders consortium.
A Popular source said that as the original objectives of the core shareholders accord have been met, namely to refinance Colonial's debt pile, the bank is withdrawing from the consortium.
But it does not mean that Popular will sell its stake in Colonial, he said.
Popular owns about 9.15 percent of Colonial, which it acquired as part of an agreement to swap outstanding debts owed by the property company. (Reporting by Judy MacInnes)
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