Atitlan completely leaves the capital of the former Lubasa group

Atitlan, the investment firm run by Aritza Rodero and Roberto Centeno, son-in-law of Mercadona president Juan Roig, has materialized its final exit from Mosaiq, the heir to the former construction and services group Lubasa, in which it took 50% in 2017 The Batalla family, heir to the founder Luis Batalla and who maintained the other half of the group after giving entry to the fund to be able to face its refinancing, has taken over 100% of Mosaiq.

The operation, the amount of which has not been disclosed, means putting an end to the process by which the Batalla have been recovering control of the main activities of the group in recent years, which became the largest public works contractor in Valencia.

Thus, the brothers Gabriel and Otilia Batalla had already taken over the entire construction activity, concentrated in the companies Becsa, Durantia and Covop, which were renamed Grupo Simetría. This new group, which also includes other services, such as the security firm Casva, had a turnover of 221 million euros in 2020.

29 million dividend

To them was added at the beginning of the year part of the environmental business, with Tetma and Vivers Center Verd, which were valued at 7 million euros, within a dividend distribution of 29 million made at the end of 2019.

In addition, with the entry of Atitlan, the old Lubasa also divested itself of some of its historical businesses, such as its parking division, which was carrying a high debt, and the tile company Saloni. Some sales that allowed to clean up the financial situation of the group that had triggered its debt for its real estate investments.

The entry of Atitlan also facilitated the segregation of the car dealership business, which was assumed by the eldest of the brothers, Luis Enrique Batalla, and who chose to continue with that business independently from the rest of the family group.

The main assets that still held 50% Atitlan and the Batalla in Mosaiq was the company Reciclados Palancia Belcaire, which manages a waste treatment plant in Castellón, in addition to some real estate projects.

According to sources from Symmetry, despite the end of the alliance through Mosaiq, both partners plan to participate jointly in specific projects.