Funds Formalise Celsa Takeover

CelsaImage Source: GOV


A consortium of investment funds has finalized the acquisition of Celsa, a Spanish steelmaking group, as approved by a Spanish court. New management, led by Jordi Cazorla Pujalte, is set to steer Celsa from 2024, succeeding the Rubiralta family’s long-standing control.


In a significant corporate development, a consortium of investment funds has successfully concluded the acquisition of Celsa, a prominent Spanish steelmaking conglomerate. The acquisition, validated by a Spanish court earlier in September, signifies a pivotal change in Celsa's ownership.

The consortium includes several major financial entities such as Deutsche Bank, SVP, Cross Ocean, Anchorage, Golden Tree, Attestor, Goldman Sachs, Sculptor, and Capital Group, which represent the primary creditors of Celsa. This collective has gained majority ownership of the company, signaling a transformative shift in its leadership.

Following the formalization of the acquisition, the consortium has nominated Jordi Cazorla Pujalte to helm Celsa as the new chief executive officer, set to assume the role starting in 2024. This appointment marks a significant transition from Francesc Rubiralta, who represented the Rubiralta family's control over Celsa since its inception in the 1960s. Rubiralta recently relinquished his position as Eurofer president.

As part of the restructuring, the new owners have committed to identifying a local industrial partner to acquire a 20% stake in Celsa. The consortium aims to finalize this partnership by mid-2024, aligning with their strategic vision for the company's future.


The acquisition of Celsa by a consortium of investment funds marks a turning point in the company's history, symbolizing a transfer of control from the Rubiralta family to a new ownership collective. With the appointment of Jordi Cazorla Pujalte as the incoming CEO, Celsa anticipates a significant shift in leadership, steering the company toward its future endeavors. This strategic move, coupled with the search for a local industrial partner, sets the stage for a transformative phase in Celsa's operations and strategic alliances.

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