The ex-pressident of La Seda de Barcelona, Rafael Español, has decided to talk, reporting that the Portuguese partners of the Matos and Caixa Geral group conspired in a plan to take control of the company at an extremely low price. Smaller investors in the company were affected. To report the situation, Español has submitted a letter to the Comisión Nacional del Mercado de Valores (the SEC of Spain) to which elEconomista had access.
In Español?s letter, he said that while he was President of the company from 2003-2009, the investors Matos and Caixa Geral acted as the largest shareholders of the company, so he followed their instructions. Consequently, Español admitted that as president he "followed the directions and instructions given by representatives from this group who completed the strategic decisions made within the company to control the advisors and make a settlement for him".
The letter indicates that all the investments made by La Seda ?throughout the last ten years were influenced in a decisive form by the Matos group and advised by Caixa Geral.?
Español just assured that this abusive situation has been going on since Carlos Moreiras was hired and BA Vidro (another Portuguese company) entered as a shareholder. Que accede en un primer momento al consejo [de La Seda] en representación de Manuel Matos, según consta en los expedientes al respecto?. Moreiras is currently the president of La Seda.
Translated and Edited in English by Brandon Dyches and Jose L. De Haro
