Link Securities | Activist fund Elliott Management, which last March burst onto the scene by acquiring a stake in Repsol, Spain’s leading oil company, continues to climb the ranks, Expansión reports today. According to National Securities Market Commission (CNMV) records, it now holds 1.35% of Repsol’s capital, which at current prices is equivalent to an investment of almost €200 million.
In half a dozen successive transactions since March, the fund had multiplied its initial 0.53% stake to 1.23%.Elliott’s escalation in Repsol’s capital comes in parallel with the emergence of Citadel, another short-term fund, as a shareholder.
