A State-owned enterprise which is governed by private law and which is attached to the Ministry of Economics and Finance, which was incorporated through the change of the social name of the Sociedad Estatal Patrimonio I and the take over of the Sociedad Estatal de Patrimonio II. This incorporation took place by the Agreement of the Council of Ministers on June 28th, 1996, on which were defined the basis of the Program for the Modernization of the State-Owned Enterprises.
From this moment, SEPPa became the Agent in charge of the above modernization program, together with SEPI and the AIE. For this, the corporate purpose which it received, in relation with the enterprises in which the Dirección General del Patrimonio del Estado had a shareholding, were those of holding, administering, acquiring and the total divesting of these enterprises, after the previous authorization of the Government or of the Delegated Commission of the Government for Economic Issues. Equally, it was in charge of carrying out and commissioning studies, analysis and deals previous, supplementary or derived, which might be required or convenient for carrying out the divestment transactions.
On May 25th, 2001, the Council of Ministers agreed the integration of Sociedad Estatal de Participaciones Patrimoniales into SEPI, while at the same time a number of enterprises which up to then had been attached to the Dirección General de Patrimonio del Estado were transferred to Sociedad Estatal de Participaciones Industriales itself.
The final dissolution of SEPPa took place on 2001, as a result of the decision of the Council of Ministers on July 13th, 2001.