Ebro Foods Buys Majority Stake In Italian Fresh Pasta Maker
Ebro Foods has announced the acquisition of 70% of Italian fresh pasta maker Bertagni (the current shareholders and management team will maintain the remaining 30%) for 130 million euros.
Spanish Small & Mid Caps
Metrovacesa’s Return To Spain Stock Market The Cherry On The Top Of The New Era For Property Developers
Property firm Metrovacesa, controlled by BBVA and Santander, has confirmed it will return to the stock market via an IPO of its shares amongst institutions.
Ence’s Share Price Soars After Selling 100% Of 2018 Pulp Production
Ence has signed agreements for the sale of 100% of its targeted pulp production in 2018. The news has already had a positive impact on the share price.
Spanish Small & Midcaps: Unicaja
Unicaja Banco offers a good investment opportunity which we consider is interesting from a price angle. UC is trading at a discount close to 50% – in terms of Price/Tangible Book Value – with respect to the main domestic banks (Caixabank, Bankia and Sabadell).
Barceló Proposes Merging With NH To Create Spain’s Biggest Hotel Chain, Third Largest In Europe
Hotel chain Barceló has proposed a merger deal with NH Hoteles whereby it would own 60% of the new group. The tie-up of the two chains would create a sector leader in Spain and the third biggest hotel chain in Europe.
Abengoa Returns To Operating Profit In 9mths To September
Abengoa posted net profit of 4,733 million euros in the nine months to September 2017, compared with losses of 5.413 billion a year earlier, due to the impact of the company’s financial restructuring on its balance sheet.
Fluidra Merges With US Rival Zodiac
Last Friday afternoon, Fluidra revealed its merger project with its US-based rival Zodiac, world leader in Premium products for swimming pools. The new company, which will keep the name Fluidra and will continue to trade on the Spanish market, will have a presence in 46 countries and a workforce of 5,500.
Spanish Small & Midcaps: Applus+
Applus+ has reiterated its 2017 targets for maintaining revenues and operating margin in line with 2016 figures, with a significant decrease in gearing expected. Its 9 months 2017 results show the continued pressure on the 0il & gas industry.
OHL eyes an international alliance to gain muscle after selling its main source of profits
Since it announced the sale of its concessions division in Mexico, its biggest source of earnings, OHL is expected to look for alliances to regain muscle. A merger with another European construction company could be a possibility.
Liberbank Transfers €602Mn Worth Of Foreclosed Property Assets
Liberbank has signed a binding agreement to set up a company with Bain Capital Credit and Oceanwood. The aim will be to administer, develop and dispose of a portfolio of foreclosed property assets belonging to the LBK group.