Norges Bank’s Stake In Sacyr Exceeds 3% Once Again

Norges Bank's stake in Sacyr exceeds 3% once againNorges Bank has both directly and indirectly, a total of 20.7 M shares of Sacyr

Norges Bank has raised its stake in Sacyr to 3.56% from the 2.9% it currently held, once again exceeding 3 pct of the construction and concessions group’s capital.

The Norwegian lender has, both directly and indirectly, a total of 20.7 million of shares of the group chaired by Manuel Manrique, according to Spanish watchdog CNMV’s records.

Specifically, Norges Bank directly  holds 9.4 million shares of Sacyr, representing 1.62% of its capital. It owns a further 11.30 million shares (1.94%) indirectly, through financial instruments. In this way, the bank is reinforcing its commitment to Sacyr, which it first bought into in September 2019. The move coincided with the group’s decision to refocus its strategy on expanding its concession business outside Spain.

Currently, Sacyr’s core stakeholders are Demetrio Carceller who, together with the Canarian firm Satocan, holds a 14.5% stake; the co-founder and former president José Manuel Loureda, with 8.25%, and the entrepreuner José Moreno Carretero, with 8.18%. The food group Fuertes also holds a 6.31% stake, while the president of the company has 1.41%, and institutional investors like Norges Bank 3.05%.