Catalonia Crisis Takes Its Toll as Companies Bolt for the Exit
(Bloomberg) -- Spanish drugmaker Oryzon Genomics SA was the first listed company to announce that it’s moving out of Catalonia. Others soon followed.
At least three of the seven Catalonia-based companies in Spain’s Ibex-35 index have announced that they are moving their registered offices out of the rebellious region. As the secessionists threaten a formal declaration of independence, here’s a list of companies that have announced exits or are looking at one.
- Banco Sabadell SA | The board of Catalonia’s second-biggest bank said it will move its registered office to Alicante, in the neighboring region of Valencia.
- Oryzon Genomics SA | The biotechnology company is moving its legal domicile to Madrid because it needs certainty in its relationships, Chairman Carlos Buesa said. “The unequivocal membership in the European common space and our capacity to maintain the dialogue with the different regulatory bodies is fundamental,” he said.
- Dogi International Fabrics | The textile company’s board agreed to start process of moving its legal domicile to Madrid.
- Service Point Solutions SA | The document management company announced Oct. 6 announced that it was moving its legal domicile to Madrid.
- Naturhouse Health SAU | The cosmetic and health company on Aug. 1 said it was moving its registered office from Barcelona to Madrid. At the time, the company said the relocation was due to operational causes.
- Codorniu SA | The sparkling wine maker said it has contingency plans in place. “We hope we don’t have to, but in the event of a unilateral declaration of independence, moving our legal domicile is an option that we have considered.”
- Gas Natural SDG SA | The energy distributor’s board met on Friday and agreed to move its registered office to Madrid.
- CaixaBank SA | Catalonia’s largest bank announced that it was transferring its registered office to the city of Valencia, down the coast from the secessionist region
- Criteria Caixa SAU | The investment holding company for the Caixa Foundation announced Oct. 7 that it’s moving its registered office to the city Palma de Mallorca. The group holds stakes in Gas Natural and Abertis, among others