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Spain: Iberdrola and BBVA sell off Vinzeo for 74 million euros

By  |  May 10, 2016
Spain: Iberdrola and BBVA sell off Vinzeo for 74 million euros

Italian company Esprinet announced to the Milan stock market its purchase of 100% of shares of Vinzeo, owned by IBV Corporation, for 74 million euros. The move would consolidate the trans-alpine group’s position at the top of Spain’s wholesale telecommunications and IT hardware distribution market. Esprinet already leads the national market in Spain, with a business worth 1.3 billion and over 300 workers, giving it a 35% share of the market/.

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    Vinzeo is the fourth largest wholesale distributor of IT and telecommunications equipment in Spain, with a commercial portfolio of over 20,000 products distributed from its central warehouses in Madrid, along with Barcelona and Bilbao offshoots.

    Vinzeo had already begun selling off it’s business in previous years, most notably its network of mobile telephone stores, which was acquired by Telefónica. The only remaining assets for the company, related to its distribution business, will now become wholly a part of Esprinet.

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