JP Morgan has become Repsol’s second largest shareholder with a 6.855% stake, while Sacyr remains as the main shareholder with an 8.2% stake.
The date of communication to the CNMC of the financial institution regarding its movement in the company’s shareholding corresponds to March 13, coinciding with the punishment on the Stock Market suffered by Repsol for the drop in the price of crude oil by the ‘war’ between Russia and Saudi Arabia and the uncertainty caused by the world crisis due to the coronavirus.
In order to shield strategic companies, the Government has suspended investments from outside the European Union (EU) in Spanish companies in strategic sectors while the coronavirus crisis lasts when these operations place the investor’s participation above 10% of the share capital of Spanish society or allow it take control of the administrative body of said company.