According to bolsamania.com, after this increase Prudential has now become the second largest shareholder of the company behind Edward Arnold Mulé, manager of the Silver Point Capital Management fund, which controls 23.35 per cent of the capital.
As notified to the Spanish financial regulator, the National Securities Market Commission, Prudential carried out the operation through several funds it manages, called Debt Investment Opportunities and M & G Debt Investment Opportunities.
Other significant shareholders of Codere capital are David Abrams, who controls 8.78% through its Abrams Capital Management fund and Jon Bauer, who controls 7.27% through the Contrarian Capital Management fund. The Martínez Sampedro family, which prior to the financial restructuring was the largest shareholder, now controls 14% through José Antonio Martínez Sampedro. In addition, Luis Javier Martínez Sampedro owns another 1.7%.
Last week Codere announced that Argentina’s economic crisis was continuing to take a toll on its operating profits. According to the financial results for the third quarter hyperinflation and the devaluation of the peso meant that the company obtained accumulated operating revenues during the 9 months of 2018 of €1,115.6 million, 8.2% less than in the same period of 2017.
However, the company achieved a gross operating profit (adjusted EBITDA) of €203.6 million in the nine months of 2018, 1.8% above the same period in 2017.
Source: GMB
