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Gas Natural to Move Registered Headquarters to Madrid -- Update

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10/06/2017 | 06:43pm CEST
   By Pietro Lombardi 
 

Spanish utility Gas Natural SDG SA (>> Gas Natural Fenosa) said Friday that it would move its registered headquarters to Madrid from Barcelona due to uncertainty caused by political tensions between the Spanish government and Catalonia over the region's push for independence.

The company made the decision "to protect the interests of the company, its customers, employees, creditors and shareholders," it said. Gas Natural said the move was for "as long as the situation continues," and thus could be temporary.

Gas Natural, founded in 1843, employs over 20,000 people with operations in 30 countries. Sales in 2016 were 23.18 billion euros ($27.2 billion).

The group's decision comes after a number of companies, including Banco de Sabadell SA (>> Banco de Sabadell), have said this week that they would either relocate or consider relocating.

Write to Pietro Lombardi at [email protected]

Stocks mentioned in the article : Gas Natural Fenosa, Banco de Sabadell
Stocks mentioned in the article
ChangeLast1st jan.
BANCO DE SABADELL -1.19% 1.3735 End-of-day quote.-17.06%
GAS NATURAL FENOSA -0.04% 23.38 End-of-day quote.21.45%
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