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  HOME | Business & Economy (Click here for more)

Three More Spanish Companies to Relocate Out of Catalonia due to Regional Unrest

MADRID – Another three Spanish companies said they will join an exodus of companies moving their legal headquarters out of Catalonia due to unrest in the region, according to a report from Dow Jones on Tuesday.

Spanish infrastructure firm Abertis Infraestructuras, along with Cellnex Telecom and real-estate company Inmobiliaria Colonial, said late Monday they would relocate their headquarters to Madrid, at least temporarily.

“Due to the legal insecurity generated by the current political situation in Catalonia, the board has unanimously agreed to move its legal seat (...) to Madrid as long as the situation continues,” Abertis said in a regulatory filing.

A number of companies based in Catalonia have decided to relocate their legal headquarters elsewhere in Spain over the past week due to concerns over the region’s push for independence. Among them are Banco de Sabadell and CaixaBank, two of Spain’s biggest banks.

On Friday, the Spanish government issued a decree that would make it easier for companies to move their legal base, Dow Jones added.

Catalonia’s regional president, Carles Puigdemont, is expected to appear before the regional parliament on Tuesday to discuss the result of a referendum on independence from Spain that took place Oct. 1.

That referendum has been deemed illegal by the central government and the judiciary.

 

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