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‘+’ The Spanish retailer gets 1,000 mde with the sale of shares to Hamad Bin Jassim; after incorporation, the company could take the step of going public, local media say. ‘+’
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MADRID (Reuters) – The Spanish retailer El Corte Ingles said Monday it sold 10% of its capital by 1,000 million euros (1,100 million dollars) to a Qatari investor, as part of the strategy to boost growth.
Sheikh Hamad Bin Jassim Al Thani arrives intended to be permanent and will seat on the Board of Directors, said the department store chain.
The English Court facilitated the entry into its shareholding to Qatari former prime minister also through an instrument convertible into shares, part of its portfolio of own shares.
The president of El Corte Ingles, Dimas Gimeno Alvarez, spoke in a statement of “a successful partnership for both parties” and said that “the new shareholder will accompany us in our growth and expansion in an environment cooperation. ”
The newspaper El Pais, which had advanced this information, adding that after the incorporation of this investor responsible for the firm could advance the possibility of placing the shares of the company on the stock exchange.
With sales of 14,200 million euros in 2013, El Corte Ingles is considered a bellwether for the Spanish economy, which employs more than 93,000 employees and a presence in much of Spain and in Portugal.
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