Stoneshield acquires 18.5% of Neinor Homes for more than €170M

Stoneshield acquires 18.5% of Neinor Homes for more than €170M

The Luxembourg-based fund manager Stoneshield Capital, founded by Juan Pepa and Felipe Morenés and whose investors include the American tycoon Warren Buffett, has acquired a total of 14.76 million shares of Neinor, through Stoneshield Southern Real Estate Holding II. This participation, which reaches a valuation of 172.7 million euros at market prices, has been formed "by virtue of different market and bilateral operations", and represents 18.453% of the promoter's share capital.

In this sense, it has been pointed out that bilateral operations for 11.74 million shares of the Spanish listed company from which Lone Star withdrew in 2018 are still "pending settlement". This package is representative of 14.68% of the share capital of the Spanish firm and its liquidation is expected to take place on February 23, 2022. Within exactly one month.

The operation marks the return of Pepa and Morenés, who were directly involved in the construction of Neinor Homes as a subsidiary of the Lone Star fund, and makes them the third largest investor in its shareholding.

The fund manager has been carrying out different real estate investments in recent times. In the spring of last year, for example, it took over the largest student residence in Andalusia. Located in Seville, it has more than 18,000 sqm built and includes 437 beds, 143 parking spaces, a nursery and two commercial premises.

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