Manuel Lao leaves Sacyr with the sale of 5.12% of the capital in exchange for 150 million
Nerifan, a company controlled by businessman Manuel Lao through Nortia Capital Investment Holding, has completed the accelerated sale of a package of 40,763,153 Sacyr shares, representing approximately 5.12% of its share capitalaimed exclusively at qualified investors.
According to the communication sent to the National Securities Market Commission (CNMV), the operation advanced yesterday to the supervisor has been completed through an accelerated placement whose amount has risen to a total of 150.8 million with a price of 3.70 euros per share. To articulate his exit, Lao has hired Citigroup Global Markets Europe AG (Citi) as global coordinator and sole underwriter.
Once the transaction is completed, the seller ceases to hold any participation in the capital of Sacyr, which it entered in 2020, while The company itself adds that it will not receive any income derived from the operation when carried out entirely with existing actions. This movement confirms the departure of one of the reference shareholders of the construction company, where it was only surpassed in capital by Disa Corporación Petrolína (14.6% of the capital), followed by José Manuel Loureda (6.7%) and Grupo Corporativo Fuertes (6.3%).
According to the firm in a statement, this decision comes after “a period of maturation and growth in the company’s value” and is part of the asset rotation process carried out by Nortia Capital. This company has a diversified investment portfolio with the objective of growing capital in the medium and long term, with investments in renewable energy, foodtech, hotels, infrastructure, and real estate. Together with the ICO Next Tech Fund, Iberdrola and Seaya, Nortia has launched Androìmeda, a large technology fund to accelerate the energy transition and sustainability, in addition to launching the Serena infrastructure fund.
According to Forbes, Hernández’s fortune amounts to 1,375 million euros this year after the businessman sold 100% of the gaming company Cirsa Gaming Corporation to the Blackstone investment fund, in an operation dated 2018 for which transaction figures were not detailed. The operation, however, left the Catalan company’s businesses in Argentina out of the sale, which have continued to be managed by Manuel Lao in a differentiated manner.
