Link Securities | Merlin Properties CEO, Ismael Clemente, highlighted in an interview with the daily Expansión that they are focused on managing and growing the company. He said they will take advantage of the opportunities which present themselves amid the possible unfavourable economic situation. This is what they did in 2014 (aquisition of the portfolio of BBVA branches), in 2015 (buy of Testa) and in 2016 (merger with Metrovacesa). The best deals are made in tough times, Clemente noted.
The recent sale of the BBVA branches for 1.987 billion euros has allowed Merlin to cut debt and pay a special dividend of 0,75 euros gross per share. With respect to the kind of opportunities which could arise, Expansión flagged that there are not many companies of a significant size and with business synergies for Merlin Properties in Spain. And the group’s plans do not involve expanding outside the country. Nevertheless, Clemente stated that, amongst other options, ther could be a state patrimonial demobilisation, particularly in the offices segment or in data centres.
In a presentation in April, Merlin said its business plan includes earmarking almost 1 billion euros over the next five years to become the leader in data centres and boost its dominant position in inmologistics
