In a significant move in the European business landscape, Criteria, the holding company of La Caixa, has agreed to acquire a 5% stake in Veolia, the French multinational, for a substantial 1,000 million euros. This investment secures Criteria a seat on Veolia's board, solidifying its position as a stable partner in the company's shareholding structure.
Criteria's Strategic Investment in Veolia
The decision by La Caixa to invest in Veolia comes after the company rejected the sale of Agbar, indicating a strategic shift in its investment portfolio. This move signals Criteria's confidence in Veolia's long-term prospects and its commitment to expanding its presence in the environmental services sector. The acquisition reflects a desire for stable, long-term investments in key European players. The 5% stake provides Criteria with significant influence and access to Veolia's strategic decision-making processes.
“This is a strategic investment for Criteria,” stated a source close to the deal. “We see Veolia as a key player in the future of sustainable resource management.”
La Caixa's Return to Catalonia
Simultaneously, in Spain, La Caixa is making headlines with its return to Catalonia. The Spanish government anticipates that this move will have a ripple effect, encouraging other companies that fled during the Catalan independence movement, known as the 'procés,' to return. Both the Generalitat and La Moncloa are working together on a discreet strategy to facilitate this economic normalization.
A Sign of Political Normalization
Grupo Caixa, encompassing the foundation and investment arm of the bank, is returning to Catalonia thanks to the political normalization efforts spearheaded by the government of Salvador Illa. This return is seen as a positive sign for the region's economic recovery and stability. The government hopes that La Caixa's return will signal to other businesses that Catalonia is once again a welcoming environment for investment and growth.
The strategy being employed by the Generalitat and La Moncloa focuses on quiet diplomacy and avoiding unnecessary publicity. The hope is that a low-profile approach will create a more stable and predictable environment, encouraging businesses to return without fear of political instability. "We believe this approach will be more effective in the long run," said a government official familiar with the strategy.
The combination of Criteria's international investment in Veolia and La Caixa's return to Catalonia highlights a period of significant economic activity and strategic repositioning for the Spanish financial institution.