Catalan Business Plays it Safe
|Some of the biggest banks and corporations in Catalonia said that within current political uncertainty surrounding possible declaration of independence of the region they are moving their legal addresses outside of Catalonia.
It looks like even the most traditional Catalan businesses are playing it safe and want to retain their business operations within legal EU framework rather than be exposed to possible turmoil in the aftermath of the independence.
With Spanish prime minister Mariano Rajoy giving Catalan prime minister Carles Puigdemont the ultimatum for his independence call until October 16, business community is adding pressure on Catalan officials to withdraw their separatist intentions.
This is the list of publicly listed companies that have already announced the change:
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Caixa bank (market cap of 24.8 billion euro) is moving to Valencia
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Gas Natural (market cap of 23.9 billion euro) is moving to Madrid
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Abertis (market cap of 4.75 billion euro) is moving to Madrid
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Banco Sabadell (market cap of 5.2 billion euro) is moving to Alicante
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Cellnext (market cap of 670.4 million euro) is moving to Madrid
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Inmobilliaria Colonial (market cap of 835.2 million euro) is moving to Madrid
Alternative companies include:
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Lleida Net (online communication) moving to Madrid
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Eurona (telecom) moving to Rivas Vaciamadrid
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Agua de Barcelona (Suez Environment) is moving to Madrid
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Torraspapel (paper maker) is moving to Madrid
Banks:
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Criteria Caixa moves to Madrid
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Banco Mediolanum moves to Valencia
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Arquia Banca moves to Madrid
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GVC Gaeso Beka moves to Madrid
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Trea Asset Management moves to Madrid
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SegurCaixa Adelas (insurance company) moves to Madrid
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MGS Seguros (insurance company) moves to Zaragoza
Health services:
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Oryzon moves to Madrid
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Naturhouse moves to Madrid
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Proclinic moves to Zaragoza
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DVD Dental moves to Madrid
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Klockner moves to Madrid
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Delivery MRW moves to Valencia
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Service Point moves to Madrid
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Fuel company Ballenoil moves to Alcobendas, Madrid
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Textile company Dogi moves to Madrid
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