Goldman Sachs also displaces BlackRock at Iberdrola

The US investment bank Goldman Sachs has reached 6.18% of Iberdrola’s capital, behind Qatar Investment Authority, which controls almost 8.7%, and has displaced from the second position the US fund manager BlackRock, which has almost 5.4% in the Spanish energy company. Yesterday, it became known that Goldman Sachs has also displaced BlacRock as the largest shareholder in Banco Santander and BBVA.

The acquisition, notified to the Spanish stock market supervisor, the CNMV, consists of 0.6 % of shares and another 5.51 % of financial instruments, purchased on behalf of Goldman’s clients.

Goldman Sachs is also, as of yesterday, the largest shareholder in the two main Spanish banks, Santander and BBVA, with 7,4 % of the capital of each, displacing BlacRock in both cases, since the latter controls 5,4 % in Santander and 5,9 % in BBVA, according to CNMV records.

At current market prices, the 6.11% stake in Iberdrola is valued at around EUR 4,237 million, which, added to the approximately EUR 6 billion that Goldman’s declared stakes in Santander and BBVA would cost, amounts to more than EUR 10 billion.