SEPI will sell shares in INTERNATIONAL AIRLINES GROUP, RED ELÉCTRICA CORPORACIÓN, S.A., and in EBRO FOODS, S.A.
08 April 2011 |
The Council of Ministers has authorized Sociedad Estatal de Participaciones Industriales (SEPI) to sell shares for up to 2.71% of the social capital of International Airlines Group, for up to 10% of the social capital of Red Eléctrica Corporación, S.A. and for up to 8.65% of the social capital of Ebro Foods, S.A.
SEPI owns 50,221,382 shares in International Airlines Group (IAG), the company which resulted from the merger of Iberia Líneas Aéreas de España, S.A. and British Airways, which amount to l 2.71% of its social capital; 27,054,000 shares in Red Eléctrica Corporación (REC) ¿the former Red Eléctrica de España, S.A.-, which amount to 20% of its social capital, although it only can put on sale 10% since, due to legal reasons, the public sector must retain at least a 10% shareholding in this company; and 13,315,018 shares in Ebro Foods, S.A., which amount to 8.65% of its social capital.
The Consultative Board of Privatizations determined, in the compulsory report dated on February 22nd, 2011 that the actions carried out so far by SEPI fully meet the principles of publicity, transparency and competition