Three More Companies to Relocate out of Catalonia

By Sonia Amaral Rohter Features Dow Jones Newswires

Three Spanish companies said late Monday they would join the exodus of companies moving their legal headquarters out of Catalonia due to unrest in the region.

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Spanish infrastructure firm Abertis Infraestructuras SA (ABE.MC) along with Cellnex Telecom SA (CLNX.MC) and real-estate company Inmobiliaria Colonial SA (COL.MC) said they would relocate their headquarters to Madrid, at least temporarily.

"Due to the legal insecurity generated by the current political situation in Catalonia, the board has unanimously agreed to move its legal seat ... to Madrid as long as the situation continues," Abertis said in a regulatory filing.

A number of companies based in Catalonia have decided to relocate their legal headquarters elsewhere in Spain over the past week due to concerns over the region's push for independence. Among them are Banco de Sabadell SA (SAB.MC) and CaixaBank SA (CABK.MC), two of Spain's biggest banks.

On Friday, the Spanish government issued a decree that would make it easier for companies to move their legal base.

The Catalan president, Carles Puigdemont, is expected to appear before the regional parliament Tuesday to discuss the result of a referendum on independence from Spain that took place Oct. 1. That referendum has been deemed illegal by the central government.

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Write to Sonia Amaral Rohter at sonia.amaralrohter@dowjones.com

(END) Dow Jones Newswires

October 10, 2017 05:41 ET (09:41 GMT)