Canal de Isabel II exits its Latin American businesses after years of losses
:format(jpg):quality(99):watermark(f.elconfidencial.com/file/65c/43d/0ca/65c43d0ca5dbd5ff8f19b44167343db9.png,0,275,1)/f.elconfidencial.com/original/cf0/f34/7a2/cf0f347a2e4589f84144582e120214d9.jpg)
Canal de Isabel II, the public company responsible for water management in the Community of Madrid, has officially announced the start of the sale of its subsidiaries in Latin America. This decision marks the end of a period of international expansion that began years ago but has not yielded the expected results.
The company's CEO confirmed that the primary objective is to carry out a total divestment in the region. Over the last decade, overseas operations have generated millions in losses for the Madrid-based company. Economic problems have been constant, affecting the organization's financial stability.
In addition to the financial difficulties, Canal de Isabel II's presence in the Americas has been marked by various political and judicial scandals. These cases have damaged the institution's image and generated significant controversy in Spain. The sale aims to close this negative chapter and protect the interests of citizens.
With this measure, the company intends to simplify its structure and improve its operational efficiency. From now on, Canal de Isabel II will focus exclusively on providing a quality service in the Community of Madrid, leaving behind an international venture that proved to be much more costly than expected.