Full stop to one of the most notorious and prolonged family conflicts on the national business scene. The heirs of David Álvarez, founder of Owls -one of the largest multinational auxiliary services companies in Spain- have reached an agreement that puts an end to more than a decade of confrontation between María José Álvarez, president of the Eulen Group, and her brothers, who control the majority shareholding of The Junipergroup in which he is integrated Vega Sicily.
In a statement sent to the media this Thursday, the family reports that they have reached an agreement that involves the shareholding restructuring of Grupo Eulen and Grupo El Enebro and, therefore, the closure of the conflict between the brothers that had lasted since 2010.
Specifically, the agreement distributes control of both companies. On the one hand, María José Álvarez, until now the owner of practically 60% of the shares of Owls, will control the rest of the shareholding that his brothers controlled. And these -Pablo, Emilio, Elvira, Marta and Juan Carlos- will come to have absolute control of The Juniperwhere María José Álvarez had around 15% of the shares.
“This restructuring determines a strengthening of both business groups and greater dynamization and agility in the decision-making required by current economic times,” both groups highlighted in a joint statement.
Along with this restructuring, the family has agreed close judicial processes existing between the companies and among the shareholders and has expressed his “gratitude to the people outside the family who have contributed and facilitated the achievement of this agreement.”