Pontegadea Earn 63% less and reduce the value of its real estate empire 1,088 million
, the investment arm of
, has acquired 5% of the capital of
Red Eléctrica Española
(REE), the company that manages the high-voltage electrical network in the country, and thus becomes the first private investor in the company and the second shareholder after Sepi (Sociedad Estatal de Participaciones Industriales), which holds 20%.
REE, whose shares ended the session this Thursday at 16.85 euros, capitalizes around 9,120 million euros, so that 5% today would be
450 million euros
In this way, the founder of Inditex and one of the greatest fortunes in the world adds Red Eléctrica to its investment portfolio, coinciding with the controversy in Spain over the high prices of electricity in recent weeks.
also present in this portfolio
, of which the Pontegadea Group owns 5%;
, of which it holds 9.99%, and Inditex, which is its main investment and of which it owns 59.29%.
Precisely the impact of the coronavirus on the activity of the group that includes brands such as Zara, Bershka or Uterqüe, has been the main reason for the reduction in profits that Pontegadea registered in 2020.
The group's net result decreased by 62.5%, from
in 2019 to 666 million, mainly influenced by the reduction in the dividend from Inditex, which stood at 646 million in 2020 compared to 1,626 million in 2019.
In addition to financial participations in companies, Pontegadea has
its other great prop
real estate sector
and also in this part the effects of Covid-19 were felt.
Net income from
in 2020 reached 613 million euros, compared to 621 million the previous year, and the joint valuation of its portfolio fell in that period from
15,163 million to 14,075 million
in 2020, according to the accounts deposited by the group in the Mercantile Registry.
According to the criteria of The Trust Project
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