Abstract
Despite the importance of portfolio restructuring strategies in multibusiness firms, there is a significant lack of studies concerning this problem in Spain and Latin America. This case study tries to contribute analyzing how the three main power multinationals in Spain have recently applied this strategy. Results show that portfolio restructuring is a consequence of environmental changes, agency problems and a previous inappropriate diversification strategy. After implementing corporate refocusing strategy, these companies improved their economic results and entered in a path of value creation.
