Spain: Codere founding family demands €900m recompense from US investors

Share on facebook
Share on twitter
Share on linkedin
Share on whatsapp
Share on email
codere

Grupo Codere SA engages in a new investor dispute. The company’s founding Martinez Sampedro family demanded the company’s remaining US investors to purchase their minority stake.

The Martinez Sampedro family filed an appeal with Spain’s National Securities Market Commission (CNMV). It requested the regulator to demand that US investors pay a minimum of €900m for the family’s 14% stake in Codere.

Besides, the dispute arises from Codere’s 2018 bankruptcy restructuring. A group of US investors took control after renegotiating the company’s €1 billion debt arrangements.

Also, according to the family, US investors ‘purposefully bypassed’ recommending a takeover offer to minority shareholders after gaining 30% control of the company. The Spanish market takeover laws required

 

Categories:

Tags:

Share:

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on email
Email
Nassima Azmzm

Nassima Azmzm

Leave a Comment

0 responses on "Spain: Codere founding family demands €900m recompense from US investors"

Leave a Message



Qasiknow.com is born out of the necessity of sharing information and knowledge with everyone in the gaming industry who is interested in learning, growing, discovering different points of view and ways of doing things.

Upcoming Events

top
Copyright ©️ Qasiknow.com | All rights reserved.
X