Sociedad Estatal de Participaciones Industriales (SEPI) is a Public Law entity, whose activities follow the private legal sys ... tem, and which is attached to the Ministry of Finance and Public Administrations - Ministerio de Hacienda y Administraciones Públicas-, and reports directly to the Minister. It was created in 1995, by Royal Law Decree 5/1995, on June 16th, validated on January 10th, 1996, through Act 5/1996 for the Creation of Certain Public Law Entities. Its creation took place, within the framework of the process for the reorganization and modernization of the state-owned entrepreneurial sector, in order to manage the industrial shareholdings owned by the State and which came from the former entities Instituto Nacional de Industria (INI) and Instituto Nacional de Hidrocarburos (INH), which were liquidated by the above mentioned norm. read more