CriteriaCaixa is making significant moves in the business world, both strategically and geographically. The investment arm of La Caixa banking foundation is acquiring a 5% stake in Veolia for a cool 1,000 million euros, effectively marking its return to Agbar, the company managing Barcelona's water supply. Simultaneously, CriteriaCaixa and La Caixa are relocating their headquarters back to Barcelona.
Strategic Investment in Veolia
The acquisition of the Veolia stake is a calculated maneuver. As part of the deal, CriteriaCaixa will gain a board member within the French multinational. This representative will play a crucial role in supporting Veolia's strategic direction, ensuring sound governance, and championing its independence. The holding company, chaired by Isidro Fainé, clearly intends to be an active and influential investor.
“This is a very important investment for us as it will allow us to have a say in the future of water management in Barcelona," a source close to CriteriaCaixa stated. "We believe Veolia is a strong partner, and we are confident that our involvement will be beneficial to all stakeholders."
Headquarters Return to Barcelona
In addition to the Veolia investment, La Caixa and CriteriaCaixa are bringing their headquarters back to Barcelona. This decision reverses a move made in 2017, with the group stating that "the circumstances" of that year no longer exist. This relocation is viewed by some as a gesture of support for Salvador Illa and has been met with satisfaction within the Government.
The decision to return the headquarters was reportedly driven by Isidro Fainé himself. It comes as the organization prepares for potential leadership changes, signaling a renewed commitment to the region and its future.
Unrelated Investigation into Isak Andic's Death
In other business news from Barcelona, an investigation has been reopened into the death of Isak Andic, the billionaire owner of the fashion giant Mango. Andic died after falling nearly 500 feet during a mountain walk near Barcelona in December. The reinvestigation was prompted by inconsistencies in his son's account of the incident. While unrelated to CriteriaCaixa's activities, this case highlights the diverse range of business-related events unfolding in the Catalan capital.
These recent developments paint a picture of a dynamic business landscape in Barcelona, with significant investments being made and ongoing investigations into high-profile figures.