We offer all the tools necessary for landing the full scope of business you really deserve.
Feel free to call us: +34 617 369 878

Israeli Fund Adar Asks for Two Seats on Neinor’s Board

Posted by: In: Real Estate 15 Mar 2018 Comments: 0 Tags: , , , , , , , , , , ,
.

15 March 2018 – Expansión

The Israeli fund Adar is claiming its space at the table of Neinor’s most senior executive body. After taking ownership of 24% of the property developer and buying almost 18% of the real estate company’s shares in just one month, Adar has requested two seats on the Board of Directors.

To this end, Adar has asked that its request be included on the agenda of the next meeting, which is scheduled for 17 April at the first call, or, if the necessary quorum is not reached, for 18 April.

Adar has proposed the appointment of Jorge Pepa and Francis Btesh as proprietary directors. In this way, the group’s Board of Directors would comprise nine members, up from the current number, seven.

The last change in Neinor’s Board of Directors took place with the departure of Dominique Cressot, a Director who represented the fund Lone Star, which sold the last remaining share package that it owned in the company last January.

In his place, the shareholders appointed Alberto Prieta, Managing Partner of the Real Estate team at BDO, as an independent director.

Adar, which first acquired shares in Neinor when the firm made its stock market debut almost a year ago, is now the real estate company’s largest shareholder, ahead of the Bank of Montreal (5.2%), Norges Bank (5.06%), Invesco (5.02%), Wellington Management Group (4.96%) and Ksac Europe (4.2%). The fund controls a package worth €296 million.

Original story: Expansión (by R. Arroyo)

Translation: Carmel Drake

The post Israeli Fund Adar Asks for Two Seats on Neinor’s Board appeared first on Aura Real Estate Experts.

Source:: AURA Real Estate Experts

LinkedInFacebookTwitterGoogle+PinterestShare

Sorry, the comment form is closed at this time.