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Catalonia: Gas Natural's Board Meets to Discuss Moving HQ out of Region -Report

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10/06/2017 | 03:23pm CEST
   By Alberto Delclaux 
 

The board of Spain's Gas Natural SDG SA (>> Gas Natural Fenosa) is holding a meeting this afternoon to discuss moving its headquarters out of Catalonia, according to newspaper La Vanguardia.

Gas Natural was not immediately available for comment.

Based in Barcelona, the gas and electricity utilities business who trade under the name Gas Natural Fenosa is the second-largest company in Catalonia, the wealthy region in northeastern Spain, by market capitalization.

The board meeting comes amid a political crisis in Spain sparked by the Catalan independence referendum held Sunday and fears that the regional parliament could declare independence next week. The uncertainty has prompted companies to move their headquarters out of the region, including Banco Sabadell (>> Banco de Sabadell), the second-largest Catalan bank by market capitalization, to Alicante.

There are also press reports that the board of the largest Catalan bank, CaixaBank SA (>> CaixaBank), is considering moving its headquarters to Mallorca, the island off the east coast of Spain.

Write to Alberto Delclaux at alberto.delclaux@dowjones.com

Stocks mentioned in the article : Gas Natural Fenosa, CaixaBank, Banco de Sabadell
Stocks mentioned in the article
ChangeLast1st jan.
BANCO DE SABADELL -0.17% 1.442 End-of-day quote.-12.92%
CAIXABANK -0.57% 3.997 End-of-day quote.2.78%
NATURGY ENERGY GROUP -0.76% 23.51 End-of-day quote.23.06%
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