Jeronimo Martins’ second-largest shareholder, Asteck, sold all 5% of the retailer that owns Pingo Doce through “fast-track accounting,” he pointed out in passed to CMVM the company led by Pedro Soares dos Santos, thus confirming the news investigated by Bloomberg.
Asteck, owned by the oil sector holding company, provided institutional investors with 31,464,759 million shares of JM for € 19.75, for a total of € 621.42 million.
This value was equivalent to a discount of 8.6% compared to Monday’s closing price (€ 21.61), which was an all-time high. If the sale had been carried out at the market value at which each share closed today, it would have been around 680 million euros.
Until now, it has been the second largest shareholder after Sociedade Francisco Manuel dos Santos, which controls 56.14% of the capital.
Selling a position can be a way of realizing capital gains as Jeronimo Martins has been significantly increasing its value in recent sessions. In the last month alone, bonds are up 12.3%, hitting a record high of € 21.61 per share on Monday at PSI-20. At these market prices, a sale of € 31,464,750 could generate € 679,953,248.
The Luxembourg-based company entered the capital of the owner of Pingo Doce in 2007, buying part of the position previously held by BPP. Asteck once owned 10% of the retailer’s shares, but in 2013 it already sold part of the shares for less than 17 euros each.
After the deal (and the buyer of the position is not yet known), the shareholder structure now includes JP Morgan Asset Management (with 2.35% of the capital), Comgest Global Investors (with 2.06%) and T. Rowe (with 2.04%). ), and 32.41% of shares are placed on the stock exchange and in treasury shares.
(The news was last updated at 23:38 with the sale price)
