Neinor Homes has communicated this Sunday to the National Securities Market Commission (CNMV) that the investment fund Stoneshield Capital has acquired a total of 14,760,436 shares of the real estate company, representing 18.453% of its share capital.
In this way, Juan Pepa and Felipe Morenés (son of Ana Botín), founders of the Luxembourg fund, return to the capital of Neinor, a company that they founded seven years ago.
According to the document collected by the CNMV, Neinor has received a communication from the Luxembourg investment fund Stoneshield Capital informing of the acquisition by the entity Stoneshield Southern Real Estate Holding II, of a total of 14,760,436 shares of Neinor, representing a 18.453 percent of its capital stock.
This transition, they explained, has been completed “by virtue of different market and bilateral operations.” “Of which certain bilateral operations are pending settlement for a total of 11,740,349 Neinor shares, representing 14.678% of its share capital, with the scheduled date for settlement being February 23, 2022,” the company points out. .
Following this move, Stoneshield Capital becomes the third largest shareholder in Neinor Homes, only surpassed by the Orion fund, which holds 28% of the capital, and the Adar fund, which holds 19% of the shares.
Pepa and Morenés launched Stoneshield Capital in January 2018 with a clear objective: to invest €300 million in the Spanish real estate sector. To achieve this goal they had the support of the famous investor Warren Buffet.
The entry of Pepa and Morenés into the capital of Neinor occurs at a very delicate moment for real estate, so much so that the large companies in the sector are seeking to join forces and come out stronger.
The best example of this is Neinor Homes itself, which in 2021 closed the purchase of Quabit for just over 60 million euros. This movement allowed it to become the largest listed property developer in Spain.
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