Amancio Ortega, founder of Inditex, has expanded his fortune by building a second real estate empire based on the generous dividends that he provides the textile giant that now his daughter directs.
Through your investment company PontegadeaOrtega has not only invested in the best buildings in luxury apartmentshotels or commercial premises on the best streets in the world, but has now diversified its investments in a strategic sector: logistics and ports.
Pontegadea enters the port business. This is not the first time that Pontegadea has tested the logistics sector, given that it already has several strategic facilities in Ireland and the Netherlands. However, the great bet of Ortega’s investment arm in the port sector has been the purchase of 49% of PD Ports last July, one of the most important port operators in the United Kingdom.
Unlike its previous investments, PD Ports It is not a real estate asset, but rather it operates in a dozen ports in the east of the United Kingdom, generating more than 1.4 billion pounds a year and more than 22,000 indirect jobs, as the company claimed. in a statement. The jewel in the crown of PD Ports is the port of Teesport. Located in the northeast of the country, it is the sixth largest port in the United Kingdom and one of the 10 largest in Europe.
Disembarkation of executives. Unlike other Pontegadea operations, the acquisition of PD Ports, whose investment cost figures have not been disclosed, is that Pontegadea has not limited itself to an investor role, but has taken action by assigning different “strong men” of Ortega to the company’s board of directors.
As and how did he count Galicia Digital Economyone of these directors who becomes part of the board of directors of the port company is Roberto Cibeira, CEO of Pontegadea, advisor to Inditex and man of Amancio Ortega’s greatest confidence. This one didn’t come alone. Next to him sit Andrés Moreno Fernández and Ignacio Iglesias Botas, both important managers in Pontegadea, who now extend their influence to the port business.
Low profile and dividends. As pointed out the economic ExpansionAmancio Ortega has chosen to enter the port sector with an approach very similar to the one he adopted with renewable energies.
In none of these sectors does it have a majority in the capital of the projects, but its presence is influential enough to obtain important dividends for its operations, which maintains the philosophy focused on stable and profitable assets from Pontegadea.
Coast to coast shopping. Since I was in the area, the Pontegadea negotiators they have gone shopping around Liverpool, on the west coast of the United Kingdom, to acquire PLP Knowsleya logistics center of 80,000 square meters.
However, the key to this acquisition is that it is one of the largest operations centers in the United Kingdom of its tenant: Amazon. With this acquisition, Ortega adds new income from Jeff Bezos’ company, to which in addition to logistics centers, has rented its headquarters from Seattle.
Image | Unsplash (Marius Niveri), GTRES
GIPHY App Key not set. Please check settings