El Corte Inglés, together with its Qatari partner, completed a notable equity operation this week. The group announced a share repurchase that reduces Primefin’s stake by relinquishing a portion of the shares, totaling 5.53% of the previously held 11.07%. The transaction is valued at approximately €387.1 million and reflects a strategic move to optimize the group’s capital structure while maintaining strong control and future upside for its shareholders.
This agreement effectively places a valuation on El Corte Inglés near €7.0 billion. It also formalizes Primefin’s contractual rights in line with the most recent corporate actions disclosed by the company. The repurchase is part of ongoing financial optimization across the group, aligning asset ownership with a disciplined capital plan.
Under the leadership of the group’s board, the operation was framed as a way to strengthen the balance sheet without increasing debt. The company emphasized that the repurchase was funded with internal resources, avoiding any incremental borrowing, and that it supports a more robust treasury management approach during a period of favorable financial conditions for the group.
The move frees up treasury stock for use in strategic purposes, while preserving likely upside from the stake that Primefin continues to hold. The agreement specifies that Primefin, led by Sheikh Hamad Bin Jassim Bin Jaber Al Thani, will adjust its rights in accordance with the new shareholder arrangement and will continue to participate in El Corte Inglés with a 5.53% stake.
Overall, the transaction is presented as a prudent step to consolidate the group’s equity structure, enhance liquidity, and position El Corte Inglés for sustainable growth. The deal underlines the company’s commitment to maintaining a solid financial footing while pursuing value creation for all shareholders.