Latest news with #Galician
Fashion United
6 hours ago
- Business
- Fashion United
Founder of Inditex acquires 49 percent of UK's PD Ports
Madrid – Amancio Ortega, founder and majority shareholder of Inditex, the owner of Zara, continues to expand and diversify his investment portfolio. He has increased his list of logistics assets with the purchase of 49 percent of the British port company PD Ports. PD Ports is one of the UK's leading port groups and the statutory body for the River Tees. According to the British port group's management, Pontegadea Inversiones, Amancio Ortega's investment and asset holding company, has agreed to purchase 49 percent of the company. Pontegadea Inversiones is where the renowned Galician businessman concentrates the bulk of his wealth and investments, including 50.01 percent of Inditex's share capital. The Canadian alternative asset manager Brookfield Asset Management previously controlled this share. The transaction, still subject to regulatory approval, will leave the founder of Inditex and Zara as a minority reference shareholder within the port company. This is Ortega and Pontegadea's first acquisition within this specific sector of logistics activity. They are entering this area with the purchase of this considerable percentage of PD Ports' share capital. PD Ports will continue to operate under the control of Brookfield Asset Management. Brookfield has committed to maintaining its investment in the company and its profile as a long-term shareholder through its 51 percent stake in PD Ports, held through its infrastructure asset subsidiary, Brookfield Infrastructure. 'This agreement marks the opening of a new and ambitious chapter for PD Ports, one that will continue to build on our proud legacy and set a solid course for our future,' said Frans Calje, chief executive officer of PD Ports. 'We look forward to working with our new shareholder to continue driving the growth of our business.' Calje also highlighted how 'PD Ports' ability to attract a high-quality investor' like Pontegadea 'represents strong support for the company, its team, and its long-term vision'. He added: 'Although we have successful operations throughout the UK, including Groveport, Felixstowe and the Isle of Wight, we remain firmly anchored in Teesside. We will continue to make targeted investments in our facilities and operations here, as well as in the rest of the UK.' Owner of Teesport and statutory port authority of the River Tees Brookfield acquired PD Ports in 2009 for a symbolic one dollar as part of the liquidation process of the Australian investment firm Babcock&Brown. This was part of a complex financial operation that led the Canadian company to take control of the main assets of its subsidiary Babcock & Brown Infrastructure, which were used to form its own infrastructure subsidiary, Brookfield Infrastructure. PD Ports is one of the UK's main port groups. It operates from 11 port facilities across the country, including ports owned by PD Ports and those operated and managed by the company. PD Ports' activity is currently concentrated around the ports and port facilities of Billingham; Hartpool; Teesport and Teesport Commerce Park; Groveport; Howden; Immingham; Keabdy; Felixtowe; the Isle of Wight; and on the River Thames, where it operates through equipment installed at the ports of Erith and Purfleet. This list includes some of the main ports in the UK, such as Teesport, which is owned and operated by PD Ports. PD Ports also acts as the statutory port authority of the River Tees. By law, the company is responsible for safety and ensuring the navigability of the river, contributing to the economic development of the area under its jurisdiction. This area covers some 12 miles, about 19 kilometres, inland from the Tees estuary, on the banks of which are the strategic facilities of PD Ports at the port of Teesport and its Teesport Commerce Park logistics park. Although the financial details of the transaction have not been disclosed or confirmed by PD Ports, Pontegadea Inversiones, or Brookfield, according to the Financial Times, citing sources close to the deal, the purchase of 49 percent of the port company by Amancio Ortega was closed at a figure slightly below two billion pounds; about 2.31 billion euros at the current exchange rate. In summary Amancio Ortega, through Pontegadea Inversiones, has acquired 49 percent of the British port company PD Ports. PD Ports operates 11 port facilities in the UK and is the statutory port authority of the River Tees. The transaction, subject to regulatory approval, values Ortega's stake at close to 2.31 billion euros. This article was translated to English using an AI tool. FashionUnited uses AI language tools to speed up translating (news) articles and proofread the translations to improve the end result. This saves our human journalists time they can spend doing research and writing original articles. Articles translated with the help of AI are checked and edited by a human desk editor prior to going online. If you have questions or comments about this process email us at info@
Euractiv
5 days ago
- Politics
- Euractiv
Power at any cost: Sánchez's separatist tightrope
MADRID – Spain will again push to grant Catalan, Galician, and Basque official EU language status at Friday's EU foreign ministers' meeting, a move widely seen as part of Prime Minister Pedro Sánchez's ongoing efforts to preserve backing from increasingly unreliable separatist allies. While EU diplomatic sources say the vote is unlikely to take place, Foreign Minister José Manuel Albares will again raise the issue at the General Affairs Council, under pressure from hardline Catalan party Junts. The initiative is the latest in a string of high-stakes concessions Sánchez has made to secure support from regional pro-independence forces. Sánchez's Socialist-led coalition, which scraped together a majority in 2023, depends on both left-wing ERC and right-wing Junts. Though often at odds, the two separatist parties are united in leveraging their support for concessions, prompting opposition accusations that Sánchez is trading national unity for political survival. A constant headache In exchange for supporting Sánchez's re-election, Junts secured a promise to push for Catalan's recognition as an official EU language. That demand was part of a broader deal that also included the controversial Amnesty Law, which pardons hundreds involved in Catalonia's failed independence push between 2012 and 2023. The law passed narrowly in parliament with a razor-thin 177-172 majority despite deep public opposition. Sánchez defended it as a 'step towards reconciliation,' but Brussels has raised rule-of-law concerns, and the Court of Justice of the EU is investigating its legality. Junts, led by self-exiled former Catalan leader Carles Puigdemont, remains an unpredictable partner. Its seven votes in parliament are essential to Sánchez's thin majority, which an opposition right-wing P artido Popular (PP) MP said described as "continuous blackmail from separatist parties". Growing internal rift Tensions have also emerged within the governing bloc. This week, Junts rejected a proposed 'unique' financing model for Catalonia that was backed by ERC and Sánchez's PSOE. Junts called it insufficient and instead demanded full fiscal sovereignty similar to the Basque-style model. The backlash has also reached inside PSOE. Emiliano García-Page, Castilla-La Mancha's regional president, warned the party 'cannot remain in power at any cost,' calling the tax deal a 'dramatic attack on equality among Spaniards.' Opposition parties, meanwhile, labelled the deal a 'political payoff' to separatists. Push for greater autonomy Junts and Sánchez's PSOE have floated a proposal to grant Catalonia powers over migration, including limited deportation authority, drawing fierce criticism from the opposition. Far-right Vox said the plan could be the 'last step before a de facto independence,' while ERC welcomed it as part of an ongoing plan to 'reduce the state's presence' in Catalonia. Though full border control is not on the table, the Sanchez government did agree to give Catalonia partial authority over ports and airports starting in September. Scandals and shifting support To complicate matters further for Sánchez, Junts and ERC have threatened to withdraw support following a bombshell police report. The investigation uncovered a network of kickbacks, rigged tenders and influence peddling involving former cabinet members, senior Socialist officials, the prime minister's inner circle and, potentially, even Sánchez himself. In a recent debate in Congress, Sánchez accused Junts of 'permanent blackmail.' Yet when asked about the state of the coalition, a PSOE spokesperson told Euractiv that 'monthly meetings' with the separatists continue, even though these remain "discreet". As the prime minister faces growing pressure both from within his coalition and from political opponents, the question remains how long he can maintain the delicate balance. 'The clock is ticking,' a Junts spokesperson warned Sánchez last week. (cs, de)
Reuters
16-07-2025
- General
- Reuters
Spanish court orders cleanup of Galician pig farm pollution in landmark ruling
MADRID, July 11 (Reuters) - The top court in Spain's northwestern Galicia region has ordered that authorities stamp out pollution linked to intensive pig farming in a landmark case highlighting decades-long environmental mismanagement, a court document showed on Friday. Spain, Europe's largest pork producer, houses about a third of its pig farms in Galicia. The court found that for some 20,000 residents of the A Limia area, the fundamental right to living in a healthy environment had been violated. The ruling, condemning both state and regional authorities, marks the first time a European court has addressed the impact of large-scale livestock farming on water sources and residents' human rights, according to environmental groups ClientEarth and Friends of the Earth Spain, which supported the case. It could pave the way for other communities suffering from similar issues to demand justice and protection from authorities, campaigners say. A Limia residents say life has become "unfeasible" due to the proliferation of intensive pig and poultry farms, which brought unbearable odours and contamination from chemicals such as nitrates that seeped into groundwater and water reservoirs. The court stated that regional authorities and the national body overseeing water management failed to act despite legal obligations and awareness of the issues. Government and regional officials did not immediately respond to a request for comment. The ruling can be appealed at Spain's Supreme Court. The court in Galicia ordered that the Galician regional government and the Mino-Sil Hydrographic Confederation take immediate measures to eliminate odours and environmental degradation around the As Conchas water reservoir. The ruling also mandates authorities to ensure clean and safe drinking water free of harmful microorganisms and chemical substances. "Now the authorities have to take action," Pablo Alvarez Veloso, head of the neighbours' association in the As Conchas reservoir area, told Reuters.
Yahoo
16-07-2025
- Sport
- Yahoo
Lucas Vazquez announces his departure from Real Madrid
Following Luka Modric's recent departure, Real Madrid have now confirmed that another long-serving stalwart, Lucas Vázquez, will also be leaving the club. A farewell ceremony is set to take place in the coming days as the versatile right-back – who has spent 18 years at the Bernabéu - bids goodbye to Los Blancos. Advertisement Vázquez first joined the club's youth setup in 2007, aged just 16, and made his senior debut in 2015 after a brief loan spell with Espanyol. Since then, the Galician has been a reliable and consistent squad player for Madrid across a decade of service. In total, he made 402 appearances, scoring 38 goals and providing 73 assists. While often operating under the radar, particularly in later seasons where he featured mainly from the bench, Vázquez earned the respect of teammates and fans alike with his professionalism, work rate and adaptability. His honours list speaks for itself: 23 major trophies, including five Champions League titles, five Club World Cups, four UEFA Super Cups, four La Liga titles, a Copa del Rey, and four Spanish Super Cups.
Fashion Network
15-07-2025
- Business
- Fashion Network
Zara launches Accra-inspired capsule with Otis Kwame Kye Quaicoe
Zara, the global fashion giant under the Inditex umbrella, continues to bridge the gap between fashion and fine art. After partnering with Chinese textile artist Fanglu Lin, the brand now collaborates with Ghanaian painter Otis Kwame Kye Quaicoe on a men's capsule collection inspired by his hometown of Accra. Together, Zara and Quaicoe have created a collection inspired by the natural elements and aesthetics of the artist's hometown, Accra. The pieces evoke the places, objects and people central to Quaicoe's artistic universe, expressed through a rich color palette where neutral earth tones meet vibrant hues. With prices ranging from €19.95 for a short-sleeved T-shirt featuring the artist's signature to €69.95 for a bomber jacket, the collection includes cotton trousers embroidered with floral motifs, shirts, Bermuda shorts, a cardigan, a sweater, and swimwear, all crafted from cotton, knit, and jacquard fabrics. The capsule also offers a wide range of accessories, including clogs, sandals, earrings, necklaces and a bandana. It is available on Zara's e-commerce platform and in selected stores. The Galician brand, currently celebrating its 50th anniversary, operated a commercial network of 1,759 sales points, including both company-operated and franchised stores, as of the end of 2024. Financially, Zara, which reports combined results with home and décor brand Zara Home, recorded revenue of €27.78 billion in its latest fiscal year, a 6.6% increase compared to 2023. Since its founding, Zara has been part of Inditex's portfolio, which also includes Massimo Dutti, Bershka, Stradivarius, Pull&Bear, Oysho, Zara Home and Lefties. The Inditex group, chaired by Marta Ortega, posted a 7.5% sales increase during the same period, reaching €38.63 billion in turnover. €1 = $1.16
