Rumasa
Rumasa (Ruíz Mateos Sociedad Anónima) was a holding company of Spanish companies founded by José María Ruiz Mateos . On February 23, 1983 , the Spanish socialist government nationalized the corporate conglomerate. At that time the entire group consisted of 754 sole proprietorships and 20 banks, had around 65,000 employees and an annual turnover of 350 billion pesetas (2.1 billion euros), which corresponded to 2 percent of the Spanish GDP .
The government justified the expropriation by the risk of collapse of the group of companies due to debts of 1.556 billion pesetas and the resulting danger for the overall economy of Spain. The Constitutional Court later confirmed the appropriateness of the nationalization.
Individual evidence
- ↑ Entrepreneur legend threatens second shipwreck. In: diepresse.com. February 18, 2011, accessed December 26, 2017 .
- ↑ a b LA NUEVA RUMASA. In: elmundo.es. February 20, 2005, accessed December 26, 2017 (Spanish).