Banuelos earns EUR 40 mln for 1% of Astroc

Enrique Banuelos, ceo of Astroc, has earned EUR 40 mln from the sale of 1% of his shares in the property company, Astroc has informed the Spanish national commission on stock exchange CNMV.

Astroc, a mayor Spanish real estate company, released 600,000 shares for EUR 19,8 mln on November 29 and another 605,000 shares for EUR 20 mln on December 1. The offer compares equals 1% of Astroc's stock representing a total value of EUR 40 mln, Spanish newspaper Cinco Dias reported.

Following the operation, Banuelos holds a stake of approximately 61% in Astroc. Nozar and Albertis' vice president Carmen Godia hold 10% and 5% stakes respectively in the property company. Enrique Banuelos has sold 7.5% of his shares in the last two months and transferred another 2.5% to Nozar. Also, the Rayet group has a call option for 5% of the entrepreneur's stake, as reported by the Bolsa Cinco newspaper.

Astroc was quoted at EUR 6,4 per share on May 24, but has increased roughly 145% in value in the last six months. On October 29 Astroc acquired Banco Sabadell's real estate unit, Landscape Promocions Immobiliaries, for EUR 900 mln plus debt.