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Cirsa’s Former Owner Acquires 5% of Merlin to become its Second Largest Shareholder

Manuel Lao, founder of the gaming group Cirsa, has acquired 5.39% of the Socimi's share capital through the investment holding company Nortia.

Salida a Bolsa de Merlin Properties 1024x683 2
Ismael Clemente, centre, led one of the most important IPOs by a real estate company.

Manuel Lao, former owner of the gaming group Cirsa, has purchased 5.39% of the Socimi’s share capital through the investment holding company Nortia. The executive is now Merlin’s second-largest shareholder, after Banco Santander, which owns 22.27%, and ahead of the funds managed by BlackRock, which own 3.99%.

At market closing prices on Monday night, Lao’s stake was valued at €170 million, since Merlin’s market capitalisation currently amounts to €3,150 million. On Monday, the real estate group saw its share price fall by 9.58% on the stock market; it has accumulated a decrease of 48% over the last month as a result of the uncertainty caused by the Covid-19 pandemic.

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