The crisis at the top of Merlin Properties hits the shares of the company and opens the battle in the largest Socimi of the Ibex

The battle has started in the nucleus of the largest Socimi of the Ibex 35 and one of the main real estate companies in the country.

The crisis at the top of the

government

threatens not only to cause an earthquake among its executives, but to deal a major blow to the company's shares on the stock market.

At the moment, this Monday they

in the first hours of the session.

The shares of the company are exchanged at 9,012 euros and its capitalization stands at

.

The origin of the punishment that investors are giving him must be found in the governance crisis that has been latent for some time and that has come to light in the last few hours.

According to the information provided by

and

, a part of Merlin's board of directors is proposing the replacement of its current CEO and founder,

, after eight years at the helm of the Socimi.

Behind this movement would be

, non-executive president of the company and number three of

, Merlin's main shareholder with 22.2% of the capital. Industry sources assure

that the discrepancies between García-Carranza and Clemente have been an open secret for a long time, that their

and that clashes in their decisions are frequent.

These discrepancies have divided the members of the board of directors in two, which also includes

, who together with Javier García-Carranza represent Santander;

representing Nortia (6.3% of the capital);

the independent directors Fernando Ortiz, Ana García Fau, Emilio Novela, Pilar Cavero, María Luisa Jordá, Juan María Aguirre and Donald Johnston, as well as

CEO) and

, the corporate general director (COO).

CNMV intervention

The situation has forced the

(CNMV)

to intervene

, which, as reported by

has asked Merlin Properties for explanations about the possible replacement of Ismael Clemente as CEO of the company.

Sources close to the Socimi have confirmed to this newspaper that they have already responded to the markets supervisor.

Merlin Properties specializes in the office, logistics and shopping center segments.

It obtained a net profit of 254.4 million euros in the first nine months of the year, which represents an increase of 127.6% compared to the same period last year despite the impact of the coronavirus, and in this period it has also continued to increase its level of occupancy in all its properties after the passage of the pandemic.

The Socimi had a turnover of 381.3 million euros in this period, 1% less, while its gross operating result (Ebitda) was 277.4 million, 0.6% more, both indicators showing some stability compared to the year 2020.

According to the criteria of The Trust Project

Know more

• economy

• Companies

• living place

Companies Warehouses and logistics warehouses, the last object of desire of companies to overcome the supply crisis

HousingThe new golden age of construction: almost 10,000 more companies between the euphoria and the ghost of the bubble

Marta Ortega will replace Pablo Isla in the presidency of Inditex

See links of interest

• Last News

• 2022 business calendar

• Home THE WORLD today

• Holidays 2021

• Podcast Economia

• How to do

• Granada CF - Mallorca

• Fuenlabrada - Real Oviedo

• Wolverhampton Wanderers - Chelsea

• Spezia - Empoli

• Newcastle United - Manchester City