Gathered Finance Corporation (Cofir) was one of the companies that fortune gave to its members throughout the second half of the eighties and nineties, thanks to an excellent list of participants (Carlo De Benedetti , the Albertos, BBVA, Caja Madrid, etc.) and a luxury employees, including three juanes sticking out then called a success: Juan Llopart, CEO of the company, Juan Villalonga, who, after Telefónica chair, and John Amat, further right hand Blessing in Cajamadrid. Also went through Cofir Javier Gupide (BBVA) and Alvarez Rendueles, who had been governor of the Bank of Spain.
Cofir was a business where most money won all partners, including Alcocer and Cortina before six-fold increase their investment in the Zaragozano. Were invited por.el Italian investor Carlo de Benedetti and took a 10%% package had to sell-the same as that of Sogecable (Canal Plus), - to put all your eggs in one basket once Zaragozano divorced their ex-wives Esther and Alicia Koplowitz.
Cofir was an investment company - hence the direct presence in their capital shareholders and the BBVA and Caja Madrid, which took advantage of the economic expansion of the second half of the eighties, following the entry of Spain and Portugal in the European Community, to make big business with the launch of companies or participations in various sectors. Thanks to her hotel companies were developed from (NH) and real estate (Malaga Sotogrande in the Algarve and other Portuguese) to winemaking (Berberana [1] ) or fashion (Massimo Tutti). Neither has it escaped purely industrial opportunities, such as the purchase in 1990 of MacOS, or even banacarias, as its shares sporadic BancoZaragozano itself .. Despite
the diversity of industries and business personalities among the partners, relations between the Italian condottiero English partners and all were wonderful, thanks to the work done by Alcocer and Cortina. The only differences, more professional than personal, emerged in the early nineties with NH, which was the main bet Cofir.
Due to the needs of European diversification and its involvement in the crisis of Banco Ambrosiano, Benedetti insisted on several occasions to conduct a stock taking cash to the hotel group, which had grown to 49.5% in return for injections made for financial expansion. But Antonio Catalán, founder prefers keep your project out of control mercados.Por this, in late 1992 Cortina Alcocer and decide to sell its 10% of Cofir return of 4.1% of the shares of Zaragozano had the investment company, so to raise its stake in the Bank from 30% to 34.1% .. Subsequently, the Albertos, through its then investment vehicle, Zaragozano Portfolio, launched an offer to acquire 10% of the bank and have an absolute majority.
Therefore, in early 1993 is a shareholder and board restructuring [1] of leaving the Albertos, Marco de Benedetti and Javier Gurpide (Bank Bilbao-Vizcaya), leading to a change in the presidency itself Cofir: leaves Rendueles Alvarez, also president of Zaragozano own, and enter the attorney Pedro Cuatrecasas and an employee of Benedetti, Gabriele Burgio, who then chaired for years new NH group is transformed Cofir, although at the moment is limited to replacement as new CEO Juan Llopart, Caixabank appointed CEO of the group La Caixa ..
978-1988 NH had arisen between the hand of Antonio Catalán developed as a family business through the reinvestment of profits. But Confirm approaches to carry out its expansion plans and then takes on new horizons. 1988-1997 starts to function as a financial holding company colectivacon that capital to be injected in just over two years with 49.5% of the company, so that puts an end to family structure and direction, resulting in 1997 Antonio's output Catalan, after which Cofir come along with Alba and the construction company Acciona to join on 1 January 1999 of the Ibex 35.Es then merge COFIR and NH Hoteles.
Therefore, on this date not only marks a milestone in the transformation of one's NH Hoteles, but COFIR. First, because the control exercised on NH COFIR forces her to leave the personal address system and helps increase the professionalism management, so today is a case study in business schools [2] . Second, because in the late nineties COFIR made a change that went through the sale of nonstrategic assets or businesses in which those to be market leaders require expensive investments are not profitable in the short term (business case Food distribution in Catalonia and Aragon, the real estate project developed Fonter Metrovacesa) [3] , and empowerment of activities enjoyed a position of market leadership and growth potential, if of NH.En this context, although since 1990 NH controlled 40% of the shares of Sotogrande, in October 1999 decided to launch a tender offer for outstanding shares of Sotogrande, SA desembolsando14.400 million pesetas to increase its share from 37% to 91.5%.
As the output of the first kind of business accounted for losses, offset by COFIR hotel business (at that time already reached their participation over 62% of NH Hoteles), June 1997 Antonio Catalán decided to leave the chief executive of NH Hoteles and sell 34% of the shares retained, ending the dispute over how to guide the expansion of the chain and direct company [1] . This participation is received 15,000 million, which reinvests with Calderón hotels in Barcelona and Madrid to mount Sanvy AC Hoteles, a project that will accompany the four Directors of NH.
is when the output is also confirmed by Benedetti [2] after placing among international funds Cerus package-Carlo de Benedetti. Between the 1996 and 1999 we conducted the merger and the sale of nonstrategic assets, completed the sale of Arco Bodegas Unidas, SA and before Gathered Finance Corporation, SA, AAI and the final absorption NH Hoteles adopting the name of the merged company and expand its corporate purpose.
At this time the former employee of Benedetti, Gabriele Burgio, is becoming president of the new Cofir or NH Hotels, a position from which lately has made surprising statements to those who contributed to the success of the group. Vocento group first [3] the July 29, 2007 and then to EL MUNDO [4] the August 31, 2008, Burgio agreed to reiterate to both media came Spain to bring order to the "total war" among the members, when in fact all they judged excellent relationships, from BBVA Cajamadrid also attributed the success of the group personally and in the end say "thank goodness we decided to leave Spain for years."
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