''Sociedad Estatal de Participaciones Industriales'' (SEPI) is a Spanish state holding company that is characterized as a

Sovereign wealth fund A sovereign wealth fund (SWF), sovereign investment fund, or social wealth fund is a state-owned investment fund that invests in real and financial assets such as stocks, bonds, real estate, precious metals, or in alternative investments such ...

. It is controlled by the

Ministry of the Treasury The (lit. the department of the great treasury) was a division of the eighth-century Japanese government of the Imperial Court in Kyoto, instituted in the Asuka period and formalized during the Heian period. The Ministry was replaced in the Meij ...

. SEPI was preceded by the

Instituto Nacional de Industria Instituto Nacional de Industria (INI, National Institute of Industry) was a Spanish state-owned financing and industrial holding company established in Francoist Spain for the development of industry and social control. It was succeeded by the Soc ...

(INI) and the Instituto Nacional de Hidrocarburos (INH). On June 16, 1995, SEPI was created in a provisional restructure which was authorized by

Decree A decree is a legal proclamation, usually issued by a head of state (such as the president of a republic or a monarch), according to certain procedures (usually established in a constitution). It has the force of law. The particular term used for ...

number 5/1995. On January 10, 1996, SEPI was ratified by

Act of Parliament Acts of Parliament, sometimes referred to as primary legislation, are texts of law passed by the Legislature, legislative body of a jurisdiction (often a parliament or council). In most countries with a parliamentary system of government, acts of ...

number 5/1999. This provided for the creation of various public legal entities and the abolition of the INI and the INH.

SEPI Group

SEPI has a direct and majority participation in nineteen companies, which make up the Grupo SEPI (SEPI Group). Its employees number around 80,000 workers. It also has interest in the Corporación Radiotelevisión Española (RTVE). SEPI also has minority direct shareholdings in seven companies, and indirect shareholdings in more than 100 companies. The SEPI Group has four divisions. These are the energy, defence, food and environment and communications industry investment divisions. The energy division includes

ENSA The Entertainments National Service Association (ENSA) was an organisation established in 1939 by Basil Dean and Leslie Henson to provide entertainment for British armed forces personnel during World War II. ENSA operated as part of the Navy, ...

, a nuclear power operator; the ENUSA group, a nuclear fuel producer; the group, a coal mining entity; and the SEPIDES group for energy consulting. SEPI also has minority shareholdings in ENAGÁS, the Spanish national gas supplier; , a nuclear residue processor (SEPI 20 percent and eighty percent); and the

Red Eléctrica de España Red Eléctrica de España (; REE) is a partly state-owned and public limited Spanish corporation which operates the national electricity grid in Spain, where it operates the national power transmission system. It also holds assets in Peru, Chile ...

(REE) corporation, the national electricity supplier. The defence division includes DEFEX for defence equipment exports and security consulting; and the Navantia Group for military and civil construction. SEPI holds minority shareholdings in EADS Aircraft NV and

HISPASAT Hispasat is the operating company for a number of Spanish communications satellites that cover the Americas, Europe and North Africa from orbital positions 30.0° West and 61.0° West. It was formed in 1989 and its activities include provision ...

satellite communications. The food and environment division includes Cetarsa tobacco; the

Hipódromo de la Zarzuela The Hipódromo de la Zarzuela is a race course on the outskirts of Madrid, Spain. It was designed in the 1930s. The architecture is in a modernist style which has been described as ''racionalismo madrileño''. Races held at the facility include t ...

royal horse racing; Mayasa consulting and project management; the Mercas group for wholesale markets; SAECA food sector investments; the TRAGSA Group for rural and agricultural development; and the Alimentos y Aceites, a producer of fine foods and olive oil. Alimentos y Aceites has shares in Ebro Foods which produces and sells rice and pasta sauces. The communication industry division included the

Agencia EFE Agencia EFE, S.A. () is a Spanish international news agency, the major multimedia news agency in Spanish language and the world's fourth largest wire service after the Associated Press, Reuters, and Agence France-Presse. EFE was created in 1939 ...

, a news entity; the RTVE corporation, the state broadcaster; the Ente Publico RTVE; a public information service promoting citizen participation; and the Correos Group, the national postal service. The SEPI Group has overview of the social trust fund, Fundacion SEPI which arranges

internship An internship is a period of work experience offered by an organization for a limited period of time. Once confined to medical graduates, internship is used practice for a wide range of placements in businesses, non-profit organizations and gover ...

student loan A student loan is a type of loan designed to help students pay for post-secondary education and the associated fees, such as tuition, books and supplies, and living expenses. It may differ from other types of loans in the fact that the interest r ...

s, and

grants Grant or Grants may refer to: Places *Grant County (disambiguation) Australia * Grant, Queensland, a locality in the Barcaldine Region, Queensland, Australia United Kingdom *Castle Grant United States * Grant, Alabama *Grant, Inyo County, C ...

for technical training and business development activities. The SEPI group holds indirect shares in more than one hundred commercial enterprises and retains some minority shareholdings in the International Airlines Group (IAG, formerly Iberia/BA) and España, Expansión Exterior (a Spanish exports development company with consulting, finance and technical assistance activities within foreign markets).

SEPI privatisation activity

List of publicly owned assets disposed up to March 2015.SEPI
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References

External links

Company websiteCompany website
{{authority control Government-owned companies of Spain Holding companies of Spain Sovereign wealth funds Holding companies established in 1995 1995 establishments in Spain