Spanish real estate giant Merlin Properties is to appoint Spaniard Manuel Lao Hernández to its board of directors at its general meeting on June 17.
Lao is a founder of the major Spanish AWP manufacturing and operating company Cirsa.
The 75-year-old entrepreneur sold his interests in Cirsa two years ago. He joins representatives on the board such as Santander Bank, holding 22.2 per cent of the Merlin stock and Blackrock with 3.9 per cent.
Merlin has a portfolio of properties in Spain valued at nearly €13bn and has plans to expand into neighbouring Portugal.
Lao is now the second largest shareholder in Merlin, holding 6.27 per cent of its stock following a recent investment of €200m.
