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Spanish government sells shares to raise funds
The Spanish government's state investment holding company (SEPI) announced yesterday how it intends to sell stakes in the newly merged BA / Iberian airways, in power grid operator REE and the Ebro food company, which have an estimated combined value of 850 mln euros .The portfolio has been scheduled to be sold in Spain's 2011 budget and is only a small part of the total assets which the government could sell to reduce its funding requirements, including property and Spain's airports authority.
SEPI said yesterday that it was seeking authorisation to sell 2.71 % of IAG - the new holding company created as a result of the merger of British Airways and Iberia airlines, with the stake worth about 150 million euros at current share prices. SEPI realeaed a statement saying how it is also seeking permission to to sell a 10 % stake in power grid operator REE worth about 500 million euros, and 8.65 % of food company Ebro Foods, currently worth about 206 million euros.
Latest News & Stories
- Facebook and Microsoft to install “megacable” between Spain and US
- Vodafone Spain to start offering Telefonica indirect fibre
- Spain arrests 30 suspected of laundering money in bitcoin centres
- Passenger flight dodges three drones before landing in Bilbao
- Almost 30% of Spaniards at risk of poverty or social exclusion
- Spain tops euro zone for political risk to the economy, says ECB
- 30 arrests in Spain for pay-TV piracy
- Spain's centre-right PP to strengthen position in election - poll
- Popular Party faces freeze on assets if it fails to pay €1.2m civil bond