Grupo Codere is exploring a potential sale of the company for more than €2 billion, as it has appointed Jefferies and Macquarie Capital to manage the sale process. Currently, Codere is owned by around 84 investment funds, which have control of the company instead of its founder, the Martínez Sampedro family. The biggest stake is
Grupo Codere is exploring a potential sale of the company for more than €2 billion, as it has appointed Jefferies and Macquarie Capital to manage the sale process.
Currently, Codere is owned by around 84 investment funds, which have control of the company instead of its founder, the Martínez Sampedro family. The biggest stake is owned by Davidson Kempner at 13.3%, followed by Palmerston Capital, Deltroit, System 2 Capital, and Invesco.
The group was established back in 1980 and now has both an online and offline presence in markets like Spain, Italy, Argentina, Mexico, and Colombia.
The sale process comes after Codere entered an agreement with creditors to exchange more than €1.2 billion in debt for equity. Thanks to this, the company was able to decrease its debt from €1.4 billion to €190 million. With CEO Gonzaga Higuero, Codere has also generated revenue of €1.35 billion in 2024, further showing the stabilization and strong performance of the company.
The deal is expected to continue in the coming weeks, with non-binding offers to be presented by the middle of May 2026, after which binding offers will be introduced in July 2026. Codere estimates that the deal will be fully completed around August 2026.