This said, the most high-profile examples of foreign investment continue to be in the traditional sectors. For instance, the Abu Dhabi Investment Authority, the third largest sovereign fund in the world, reached an agreement with Meliá to buy seven hotels in Mallorca. Swiss investment company Stoneweg purchased the Be Live Hotel Palace de Muro from Globalia; the US Hyatt Group will manage it.
Sport has provided an alternative opportunity – American Andy Kohlberg acquired the shares of Real Mallorca, the club already having been in American hands.
In the technology sector, German IT service provider Nagarro has acquired Advanced Programming Solutions, a Mallorca company that was founded in 2009.
Aurum, another company that operates in the mergers and acquisitions market, says: “The Balearic Islands are one of the regions where the purchase of companies is increasing the most. After Madrid and Catalonia, the Balearic Islands are a great economic power.”
