Nerifan SL, controlled by the investor and founder of Cirsa Manuel Lao Hernández through Nortia Capital Investment, has put up for sale a package of 40.7 million shares of the construction company Sacyr, which represent 5.12% of the company. The company informed the National Securities Market Commission (CNMV) that the businessman had hired Citi to study this possible sale, with which the investor, who has a fortune of approximately 1,375 million euros, would cease to have a stake in the company.
Sacyr closed the trading day on Tuesday at a price per share of 3,958 euros, which means that the whole is worth around 161 million euros today. As the company emphasized to the CNMV, Sacyr will not receive income from this operation which is aimed exclusively at qualified investors.
The price per share will be determined through an accelerated offering and the process will begin immediately. Citi reserves the right to terminate it at any time and at short notice, after which a new announcement will be published detailing the result of the operation and the final price of the shares placed.
Lao signed a placement contract with Citi under the usual conditions for this type of block operations. The offering, which does not involve any public offering in any jurisdiction, is directed solely to qualified investors in the European Economic Area and the United Kingdom, excluding markets such as the United States, Australia, Canada, Japan or South Africa, subject to applicable legal and registration restrictions.
According to CNMV archives, Disa Corporación Petrolína is the main shareholder of Sacyr with approximately 14.6% of the capital, followed by José Manuel Loureda (Prilou) with 6.7% and Grupo Corporativo Fuertes with 6.3%. Below Manuel Lao is Rubric Capital Management with 4.43%.
According to Forbes, Lao Hernández has a fortune of approximately 1,375 million euros, or approximately $1,600 million, in 2025.
In April 2018, Manuel Lao Hernández sold one hundred percent of the gaming company Cirsa Gaming Corporation to the investment fund Blackstone, in an operation for which the transaction figures were not detailed. This operation excluded from the sale the activities of the Catalan company in Argentina, which continued to be managed in a differentiated manner by Manuel Lao.
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