Catalan lender Sabadell has sold its subsidiary Sabadell United Bank (Sabadell United) to US lender Iberiabank Corporation (IBKC) for a total price of 1.025 billion dollars (967 million euros).
Abertis improved all its key indicators in 2016 above the company’s expectations: EBITDA rose to €3,240Mn (+20%) and revenue to €4,936Mn (+13%), thanks to the traffic growth and the incorporation of new assets into the consolidation scope. Net profit totalled €796Mn, up 13% in like-for-like terms.
Telefonica posted profit of 2.369 billion euros in 2016, up 3.8% from a year earlier. Last year’s figure reflected non-recurrent items, mainly a 1.290 billion euros charge in the fourth quarter related to restructuring costs. Excluding that charge, profits rose 4.8% to 4.038 billion euros year-on-year.
Iberdrola has signed a loan worth 500 million euros with BBVA to finance energy efficiency and renewable energy projects. The so-called green loan offers the company more advantageous conditions (no details have been provided on the cost or maturity).Furthermore, the company…
Nearly six months after Telefonica announced the IPO of its infrastructure affiliateTelxius, venture capital firm KKR said it plans to buy 40% of the company for 1.275 billion euros, or 12.75 euros per share. So one headache less for the Spanish telecommunications giant.
Ferrovial has teamed up with the Australian company Plenary to bid for motorway and other infrastructure concessions in Australia and New Zealand. They will create a joint venture (the Netflow consortium) through Ferrovial’s concessionary arm Cintra. This market is a priority one for Ferrovial, basically because of its high profitability.
Emilio Saracho will be appointed as Banco Popular Chairman at today’s Extraordinary Shareholders’ Meeting. The new chairman (ex-deputy chairman at JP Morgan) will very likely revise the bank’s strategic plan, avoiding a new capital hike at least in the short-term.
The joint venture formed by Leandlease and Turner (subsidiary of ACS) has been awarded a project to extend the Jacob K. Javits convention centre (New York) for a total of 1.5 billion dollars (approx. 1.4 billion euros).
CaraxAlphavalue has revived the idea of investing in Telefonica, one of the most international profiles in the telecom sector with nearly 75% of the business outside its home market and a reference point in the Spanish- and Portuguese-speaking markets. Indeed, if this global position allowed to deliver modest organic growth in the early 2010s despite a sluggish European market, it has caused a devaluation of Telefonica’s market cap since 2015 with the collapse of almost all the South American currencies vs the euro.
BBVA said on Wednesday that net attributable profit rose 31.5% to 3.475 billion euros in 2016 from a year earlier, the highest figure since 2010.