In recent weeks CriteriaCaixa, the investment arm of la Caixa, has entered Puig, ACS and Colonial, increased its stake in Telefónica and exited Cellnex, while awaiting the outcome of Naturgy.
These corporate operations are a sign of the change of cycle in which CriteruaCaixa is immersed, which yesterday presented its strategic plan until 2030. Its main objectives are to increase the gross value of its assets by 48% to 40,000 million euros and to achieve dividends of up to €700 million (75% more) for the foundation with an aggressive plan that will be difficult to fulfil, according to company sources, which since February has had Ángel Simón as its chief executive.
“Our preference is for consolidated businesses, with opportunities for expansion, with solid financial positions and continuous and growing dividend payments”, said Criteria’s chairman, Isidre Fainé, on Monday, during the presentation of the strategic plan.
The group wants to reduce its current debt, which stands at 15% of its assets, to 10%. And it wants the rate of return on investment to be between 8% and 10%, well above the current 3%.
