Report by Bankinter
The two branches of the Entrecanales family, which jointly own 55 per cent of Acciona’s share capital through various companies, will allow the agreement relating to pre-emptive rights over the company’s shares to lapse. Tussen de Grachten BV, the company through which the Entrecanales Franco branch controls 29.02 per cent of Acciona, announced in January last year – one and a half years in advance, in accordance with the terms of the agreement – that it would not renew the agreement upon its expiry on 14 July 2026. The company’s current executive vice-chairman is Juan Ignacio Entrecanales Franco. Meanwhile, through Wit Europese Investering (WEI), the Entrecanales Domecq branch controls 26.10 per cent of Acciona. José Manuel Entrecanales Domecq is the current chairman and chief executive of Acciona.
The non-renewal of the agreement comes as no surprise, as the Entrecanales Franco branch announced in January 2025 – 18 months in advance – its intention to allow this agreement to lapse. From today, they will be able to sell their shares on the market without first offering them to the Entrecanales Domecq branch. This would facilitate transactions, particularly given that there are many heirs with small shareholdings following several generations. In any case, the Entrecanales Franco family wished to emphasise in their statement “their firm commitment” to Acciona’s business project, their alignment with the strategy pursued by the company and their “confidence and support” for its directors and management team.
