Luis Portillo, chairman and majority shareholder of Inmoracal-Colonial, has acquired 2% of Eiffage for EUR 204 mln. Portillo has become the third-biggest Spanish shareholder in the French construction group, whose board is polarized in two axes said to represent rival Spanish and French interests.
Luis Portillo, chairman and majority shareholder of Inmoracal-Colonial, has acquired 2% of Eiffage for EUR 204 mln. Portillo has become the third-biggest Spanish shareholder in the French construction group, whose board is polarized in two axes said to represent rival Spanish and French interests.
Spain's Sacyr Vallehermoso, Eiffage's majority shareholder with a 33.2% stake, appealed Monday to Caisses des Depots et Consignations, as well as Eiffage's shareholders, managers and employees to support its request for five seats on the company's board. 'We consider that all shareholders should be entitled to representation on Eiffage's board of directors', the company said in a full-page ad in French business daily La Tribune. A decision is expected to be taken at Eiffage's general meeting on Wednesday.
France's third construction company Eiffage had earlier unveiled which shareholders oppose the entry of the Spanish group in the company's board. Chairman Jean-Francois Roverato said this consortium includes the company's managers and employees (with 21% and 5% of Eiffage respectively), Caisse des Depots (with 8.5%) and the insurance groups Axa and Groupama with a combined 4%.
