FX.co - Six companies fleeing Catalonia

2017-10-10T21:17:54

Six companies fleeing Catalonia

The geopolitical situation in the Spanish region of Catalonia causes concern among major businesses. Some are preparing to move their head offices to other parts of the country, mainly to Madrid. View the details.

Catalonia held a controversial referendum on whether it should secede from Spain, thus creating dangerous geopolitical environment. Spain is in no wish to recognize the independence of this territory, although 90% of the Catalan voters have backed it. For most major companies this is an unfavorable situation. Some firms are moving their offices to other parts of Spain. Check them out.

Caixabank

Caixabank, the third-largest financial institution in Spain, said it

was ready to move its head office from Barcelona to Valencia in order to protect its clients' interests.

Sabadell

Sabadell, one of Catalonia's largest lenders, announced that it will move its headquarters away from the region to Alicante. The bank is concerned that it could suffer from having no access to the EU markets.

Colonial

Spain's leading real estate firm said it was ready to move its head office out of Catalonia to Madrid.

Gas Natural Fenosa

Catalonia-based Gas Natural Fenosa, Spain's largest domestic energy company, decided to move its headquarters to Madrid with an aim to protect the interests of the firm and its customers.

Dogi International Fabrics

The textile company opted to move its legal domicile to Madrid. The reasons behind the move are the same: intention of protecting the interests of the firm and its customers and an opportunity to do business in a tranquil environment.

Oryzon Genomics

Oryzon Genomics, a biotechnology leader in Spain, said it was moving to Madrid from Barcelona to "optimize its operational effectiveness and the relationship with its investors."

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FX.co ★ Six companies fleeing Catalonia

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Six companies fleeing Catalonia