SEPI Sociedad Estatal de Participaciones Industriales

After the meeting of the Board of Directors which took place

The Board of Directors of the state-owned industrial holding company Sociedad Estatal de Participaciones Industriales (SEPI) has resolved in the meeting held today to merge the Fundación Laboral SEPI and Fundación SEPI, in keeping with the Plan for the Reorganization and Rationalization of the state-owned corporations and trusts, which was approved by the Council of Ministers on March 16th, 2012.

The merger seeks to unify the purposes of both entities, which are focused on promoting SEPI’s initiatives and corporate social responsibility projects, understood as this entity’s active and voluntary contribution to the country’s social, economic and environmental improvement. With this goal, the Board of Trustees of Fundación SEPI and that of Fundación Laboral SEPI, in the meetings held on November 7th and 15th, 2012, respectively, resolved to merge, after the amendment of their byelaws.

The new Trust which results from the above mentioned merger, which has as its social name Fundación SEPI, has an 86 strong workforce, and has as its trust purpose those of the former entities, as well as their joint assets, among which are the university hall of residence Colegio Mayor Universitario Fundación SEPI and the Campus Los Peñascales.

The purpose of the new Trust is that of promoting grant programs for the occupational training of young graduates with no previous professional experience, to carry out training activities, to contribute to the promotion of the knowledge society through the promotion, diffusion, and making economics and corporate reports and researches, among other social activities. It also includes the preservation of the historical memory of the employees of the state-owned corporate sector and of their contribution to the achievements of the former Instituto Nacional de Industria (INI) and of the remaining entities which have made up the State’s corporate sector, and especially of SEPI.

The administration and management of the new Fundación SEPI will be in he hands of its Board of Trustees; its Members will be appointed by SEPI, which is the sole founder of the merged trusts.

Grupo SEPI

Grupo SEPI is, a corporate holding which includes a total of 18 state-owned companies in which it has a direct and majority shareholding participation, with a workforce of more than 80,000 professionals; the Spanish state-owned television and radio corporation, Corporación Radiotelevisión Española, over which it has certain powers, and one public sector trust. Equally, SEPI has direct minority shareholdings in a further seven companies, and indirect shareholdings in more than one hundred companies.