Luis del Rivero, boss of Spain's Sacyr Vallehermoso, and Juan Abello, advisor of the group, are to get two seats on Repsol YPF's board by the end of the month. Sacyr Vallehermoso owns almost 17% of Repsol as it moves closer to acquisition of the oil company.
Luis del Rivero, boss of Spain's Sacyr Vallehermoso, and Juan Abello, advisor of the group, are to get two seats on Repsol YPF's board by the end of the month. Sacyr Vallehermoso owns almost 17% of Repsol as it moves closer to acquisition of the oil company.
Following the recent increase in its stake, the property company is to have two seats on Repsol's Board, previously assigned to Marcelino Oreja, FCC’s manager, and Gonzalo Anes Alvarez-Castrillon, FCC's advisor.
Del Rivero is Sacyr's major shareholder, with 13,75% of the company, while Abello is at the third place with 10% of the group. In November, Sacyr Vallehermoso raised its stake in Repsol up to almost 17%. Through this operation the group has become Repsol's biggest shareholder, followed by La Caixa with 12.5%. The company aims now at getting 20% of the oil company, Spanish news agency EFE stated.
Sacyr Vallehermoso was formed from the acquisition by Vallehermoso - then Spain's largest real estate agency - of major Spanish construction firm Sacyr in 2003.
