Advisors to the administration of Luis del Rivero, president of Sacyr Vallehermoso, came out with flying colors for the third time in a little more than two weeks. The Murcian businessman halted all proposals from the opposing group and the meeting ended abruptly, with many advisers not attending and a lunch served later on.
Shareholders close to Rivero successfully stymied the proposal whipped up by Disa president Demetrio Carcellar and Torreal president Juan Abelló who had joined forces with the four savings banks involved with Sacyr capital: NovaCaixaGalicia, Bankia, Unicaja and BMN group. The lenders' principal objective is to build a commission charged with quelling hasty relations with Repsol, the petroleum company of which Sacyr owns a majority share (20% of their capital).
The prior agreement adopted by Carceller, Abbeló and the four savings banks (who control 12% of Sacyr) thought that Luis del Rivero would not form a part of the omission ordained to facilitate negotiations with Repsol, but ultimately the president and his supporters agreed to reject this idea in its current format, according to reliable sources familiar with the matter.