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Merlin is Appointed a Director of Distrito Castellana Norte

The Socimi will join the board of DCN this week in representation of the 14.6% stake that it bought last year in the Madrid Nuevo Norte developer. Merlin is DCN's second-largest shareholder after BBVA.

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Merlin Properties is going to become a director in its own right of Distrito Castellana Norte (DCN), the company that is promoting the urban development of Madrid Nuevo Norte. The Socimi will be representing the 14.6% stake that it bought in the property developer last year. Merlin is DCN’s second-largest shareholder after BBVA.

On Tuesday 28 June, DCN’s shareholders’ meeting was set to approve the renewal of one of the two directors representing the San José group, a historic partner of BBVA in what is known as Operation Chamartín and which last year sold 14.6% of its stake in the project to Merlin for 168 million euros. For several months, the position has been held by Miguel Oñate, a director of Merlin.

Read the full article in Spanish.

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