1.- INTRODUCTION
Rumasa (Ruiz Mateos Joint-stock Company) was a Spanish holding company of companies expropriated by the Spanish government of the PSOE (SPANISH SOCIALIST PARTY) on February 23, 1983, by virtue of the Decree - law 2/1983. The group Rumasa, in the moment to the regulation be published, was constituted by 700 companies, with a staff that was reaching 65.000 persons, invoicing approximately 350.000 million pesetas (more than 2.000 million Euros) annual.
2.- ACTIVITIES OF THE COMPANY
The company was growing and diversifying his activities, turning this way into a corporate group that some were resting to others. Rumasa was present, between others, in the following sectors:
It pays: Bank Atlántico, Bank of Sherry, Banking Masavéu, Exbank, AVA, Eurobank, Banfisa...
Hotel and catering business (Hotel management): Chain hotel "Hotasa", whose hotels had name of animals and plants(floors): " The ", greyhounds " The hound ones "...
- Wine production: Warehouses Paternina, Garvey.
- Department store: Galleries Boasted, popularly known as "Galleries".
- Shops of luxury: Loewe.
-Education: College Izarra.
The emblem of the whole corporate group was a bee, symbol of laboriousness, contained in a hexagon. The Holding company was producing a magazine for his personnel: "The Beehive ".
In the moment of the expropriation, in 1983, the group Rumasa 700 companies constituted it, with a global insole (staff) of 65.000 persons and a turnover (invoicing) of 350.000 million pesetas.
3.- EXPROPRIATION FOR THE STATE.
On February 23, 1983, the Ministers' Council of the Government of Spain decrees [1] ...