Hard-pressed Spain sells or shuts down transport, logistics holdings
2012 03 28
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THE Spanish government has announced plans to divest itself of 80 state-owned enterprises, including transport and logistics companies in a national austerity programme linked to its role in the European sovereign debt crises.
Centros Logisticos Aeroportuarios, an air cargo promotions unit of the airports state-owned AENA owner, is being axed as are freight transport subsidiaries of state railway Renfe, including Irion Mercancias (iron and steel), Multi-Mercancias (bulk products) and Logistica y Transporte Ferroviario (vehicles), among the 80 firms on the list, some of which are to be shut down.
Spain's Treasury and Public Administration Services ministry has also announced that a number of minority stakes held by the state in private companies in the freight transport sector will also be sold.
They include a 20 per cent shareholding in rail freight operator Transfesa, which manages a fleet of over 2,000 car-carrier wagons; and stakes in Combiberia (combined transport), Construrail (bulk rail freight) and in three companies specialising in rail freight services for automobile logistics, Semat, Autometro and Cargometro.
State assets in the Terminal Intermodal Del Monzon and in Sociedad Iberica de Transporte Intermodal and Alfil Logistics are also to be relinquished, reported London's International Freighting Weekly.
No details have been disclosed on how much capital the state is looking to raise from these shareholdings nor the terms and conditions or the timetable for the sale process.
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