LS Invest AG's name has been linked in the Canary Islands to a single chapter: the controversial purchase and sale of the Hotel Catarina in Playa del Inglés (south of Gran Canaria). This episode sparked a decade of litigation against the Lopesan group, chaired by Eustasio López González, and which finally concluded in 2025 with a compensation agreement of €5 million.
The origin of the conflict: the purchase of the Catarina. In 2015, LS Invest acquired Creativ Hotel Catarina SA (CHC) from the subsidiary Creativ Hotel Buenaventura SAU (Lopesan) for €34 million. The star asset of that transaction was the Hotel Catarina, a landmark four-star hotel in Maspalomas. Just months later, LS Invest resold the asset to HI Partners (then the hotel arm of Banco Sabadell and now Blackstone) for €42,4 million, in addition to acquiring a loan package from Sabadell itself with a nominal value of €32 million, paying €31 million on them.
Suspicion of overpricing and the lawsuit in Germany. What seemed like a quick and profitable deal soon turned into a headache. In July 2015, the LS Invest shareholders' meeting approved the appointment of a special representative, attorney Dr. Norbert Knüppel, to investigate a possible overprice paid in the purchase from Lopesan.
This investigation led to a liability lawsuit filed in 2023 with the Duisburg Regional Court, in which LS Invest sought €9,204 billion in damages. The defendants were numerous: Creativ Hotel Buenaventura SAU,
Children of Francisco López Sánchez SA, Invertur Helsan SLU, Invertur SA, and Eustasio López González himself, as the majority shareholder.
Legal costs and controversial expert reports. The legal battle dragged on for years, generating high costs in fees and expert reports. According to LS Invest, one of the expert reports submitted in Germany "completely ignored the specifics of the Canary Islands hotel market in 2015," casting doubt on the minority shareholders' claims. The uncertainty surrounding the legal outcome, coupled with the risk of prolonging the dispute, prompted both parties to explore a negotiated solution.
The agreement with Lopesan and the end of the lawsuit. In the spring of 2025, LS Invest announced a settlement with Lopesan Touristik SAU, a subsidiary of the Canary Islands hotel group. The agreement stipulated the payment of €5.000.000 to LS Invest, without recognition of any legal obligation on the part of Lopesan, in exchange for the immediate withdrawal of all legal actions against the group and its subsidiaries.
A Sonderdividende for shareholders. The entire €5 million was earmarked for a Sonderdividende (extraordinary dividend) for LS Invest shareholders. Payment was scheduled for after the 2025 annual general meeting, based on the principle of proportionality based on the shares outstanding. The Board of Directors and Supervisory Board recommended voting in favor, considering that the agreement "avoids high financial risks, puts an end to a decade of litigation, and ensures an immediate benefit for shareholders."
