22 September 2016 – Expansión
BlackRock has acquired shares in the Socimi in which George Soros and John Paulson also own stakes. According to Spain’s National Securities and Exchange Commission (CNMV), the private equity firm has acquired a stake of 3.28%, worth around €42 million, at current market prices.
The US fund has thereby extended the stakes that it already held in a large number of Ibex 35 companies to the Socimi sector, including the Socimi Merlin Properties. BlackRock owns almost 4.8% of that company, which is controlled by Ismael Clemente, although that percentage may vary as a result of the merger with Metrovacesa and the entry of banks such as Santander and BBVA into the Socimi’s share capital.
In the case of Hispania, BlackRock has acquired a package of 3.54 million shares in one of the first Socimis ever launched in Spain, which represents 3.28% of its share capital, according to the CNMV’s registers.
BlackRock has whereby joined a list of distinguished foreign investors with stakes in Hispania, which include: George Soros, the firm’s main shareholder with a stake of 16.6%, John Paulson, who controls 9.8% of the Socimi’s capital, the fund Fidelity (6.4%), Canepa Management (5.9%) and Cohen & Steers (3%), amongst others.
Hispania holds a portfolio of assets, worth around €1,627 million at the end of the first half of the year, which represented an increase in value of 7.5% with respect to the start of the year and 14.2% compared to the previous year.
The Socimi chaired by Rafael Miranda made €120 million during the first half of the year, up by 110%, and generated revenues of €60.8 million, up by 60%.
Original story: Expansión
Translation: Carmel Drake