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Ibex

Siemens Gamesa

Ibex, Markets 23rd June 2020

Siemens Gamesa Wins Contract To Supply An Offshore Wind Farm In The UK (4.9% Of The Order Book)

Through one of its subsidiaries, Siemens Gamesa has received a conditional order from Innogy SE for the supply of 100 units of the SG 14-222 DD offshore wind turbine. The order, with a total potential of 1.4 GW, is for the Sofia wind farm, located 195 km off the UK’s northeast coast. The deal also includes a service and maintenance contract. The order represents 4.9% of Siemens Gamesa’s portfolio at end-March.

Indra Rail Baltica

Ibex, Markets 19th June 2020

Indra Will Design Part Of The Railway Line That Will Join The Baltic Countries With The European Network

Prointec, Indra’s civil engineering subsidiary, will participate in the largest railway infrastructure project in Europe, Rail Baltica. This is a rail network for passengers and goods linking the Baltic countries, Estonia, Latvia and Lithuania to the Trans-European Transport Network (TEN-t). In consortium with German engineering consultancy Obermeyer Planen + Beraten GmbH, it will design a 93.5 km section of the works for a total of €10.8 M.

Santander consumer bank

Ibex, Markets 18th June 2020

Santander Values Its European Consumer Lending Business At € 12.8 Bn

This figure is the result of a corporate reorganization undertaken by the lender in recent months. The bank bought 25% of the capital of Santander Consumer Finance which it did not control directly from one of its subsidiaries. This stake has been valued at 3.193 billion euros which means valuing 100% of the subsidiary at nearly 12.8 billion.

Ibedrola Australia

Ibex, Markets 17th June 2020

Iberdrola To Achieve 1,000 MW Of Operating Capacity In Australia With Takeover Bid For Infigen Energy

Renta 4 | Iberdrola has announced a takeover bid for 100% of the Australian renewables company Infigen Energy at a price of AUD 0.86$ per share. This is in line with Infigen Energy’s current stock price, but 6% higher than the offer made by UAL Energy on 9 June. It values Infigen at AUD 841 M (510 million euros approximately, 0.7% of Iberdrola’s market cap), with an EV/EBITDA multiple of 8.2x (vs 10x at Iberdrola’s current price).

repsolatardecer

Ibex, Markets 17th June 2020

Aramco Enters The Spanish Market Through An Alliance With Repsol To Produce Synthetic Fuels

The Spanish oil and gas group has announced an agreement with Saudi state oil company Aramco for the development of synthetic fuels. The agreement begins with an industrial conversion project in the Petronor factory (Basque Country) and would later be transferred to the rest of Repsol’s facilities globally. Repsol will invest 80M euros to modify some of Petronor’s production processes via two projects.

grifols1 777x400 1

Ibex, Markets 12th June 2020

Grifols Starts Manufacturing Its Immunoglobulin For The Treatment Of Covid-19

Grifols announced yesterday that it has started production of hyperimmune immunoglobulin as a potential therapy for Covid-19. This makes it the first company to begin manufacturing anti-SARS-CoV-2 hyperimmune immunoglobulin, the first doses of which will be available in July. The aim is to integrate it into a clinical trial to evaluate its efficacy and subsequently begin the regulatory process for its approval.

MasMovil

Ibex, Markets 11th June 2020

While Waiting For A Counter-Bid, MasMovil Accelerates Growth Via Corporate Operations

The telecommunications operator, which is in the midst of a takeover bid, is relaunching its commitment to growth with four corporate transactions. These are: the acquisition of Lycamobile, a mobile virtual operator focused on the immigrant market and its subsidiary in Portugal; the purchase of Ahimás, which specialises in rural areas; and the launch of its Basque subsidiary Guuk. The Lycamobile deal, worth €372 M, is the most important one. It was agreed in February and approved by the board on May 28.

Telefonica nubecillas

Ibex, Markets 10th June 2020

Telefónica Buys 10,100 Towers From Its German Subsidiary Through Its Telxius Infrastructure Arm; Cuts Debt By €500 M

Telxius, Telefónica’s infrastructure subsidiary, will carry out a capital increase of 1.5 billion euros to buy towers from Telefónica Deutschland. Telxius will finance 90% of the acquisition via a capital increase – which will be subscribed by current shareholders in proportion to their stake – as well as internally generated resources. The remaining 10% will be financed through incremental debt.

zara coronavirus

Ibex, Markets 10th June 2020

Only The Coronavirus Has Been Able To Knock Inditex Back

Inditex has published results for its first fiscal quarter (February-April), reflecting as expected the strong impact of the coronavirus: historical losses of €409 million, positive EBITDA although 78% lower than in Q1’19, and a 44% drop in revenues. Nevertheless, the company confirmed the payment of a dividend against 2019 results of 0.35 euros/share, 60% less than a year earlier.