AGBAR, an international group dedicated to water services, treatment and distribution, has announced the return of its registered headquarters to Barcelona. The company made the announcement this Tuesday, noting that they had said at the time of their move to Madrid that it was "temporary, to preserve the legal security of its investors and providers".
The decision was taken today by the company's board, based they say on the current "economic stability" of Catalonia. Company sources emphasise that it is the parent company which moved originally and is moving again today, "the companies which make up [the group] didn't move headquarters at any time".
AGBAR moved its registered office to Madrid on 7th October last year amid swirling apocalyptic predictions for the Catalan economy given the independence push. It followed Mariano Rajoy's Spanish government issuing an executive order making it easier for companies to move out of Catalonia. Numerous companies took this opportunity, AGBAR is one of the first large firms to now move back. The group now says the current prosperity of the Catalan economy has changed their expectations, contributing to their decision.
The company says the change to their registered office "has had no effect at all on the service offered to our customers", nor has it "affected planned investments".