• Transaction / Assets
    19,000 m2 plot in the Port of Vigo
  • Seller
    Cementos Tudela Veguín
  • Buyer
  • € MM
    2.8

Masaveu Sells Land in the Port of Vigo for €2.8M

31 January 2019 – La Nueva España

Cementos Tudela Veguín, which forms part of the Asturian business group Masaveu, has obtained almost €2.8 million from the sale of land in the Port of Vigo. The plot measures 19,000 m2, was barely being used and is located in Rande.

Cementos Tudela Veguín, which has several warehouses in the Port of Vigo, also owned an area of land that was of interest to the Port authority to improve access and expand the area reserved for logistics. The directors of the Port of Vigo learned of the details of the land purchase operation last Friday, which was closed for €2,783,000, an amount that has already been transferred to the cement producer company.

The Masaveu family is considered to be the richest in Asturias and is amongst the wealthiest in all of Spain. Their wealth is estimated to amount to around €2.1 billion, according to a new list compiled by El Mundo, which analyses the largest 200 fortunes. The Masaveu family occupies 16th position in the ranking, which is led by the President of Inditex, Amancio Ortega, with assets worth €50.4 billion. He is followed by Rafael del Pino from Ferrovial, and Juan Roig from Mercadona (…).

Original story: La Nueva España (by A.O. & J.L.S)

Translation: Carmel Drake

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