The Board of the supermarket chain DIA has issued a profit warning because of the fall in the volume of sales and the increase in operating costs, which has caused it to revise its estimation of Ebitda for 2018 to between 350-400 million euros. This reduction of the forecast for 2018 does not include the potential impact of hyperinflation in Argentina, a country which accounts for 15% of sales.
SPANISH SMALL & MID CAPS
Cepsa’s single shareholder, Mubadala (Abu Dhabi Sovereign Fund), expects to raise up to 2.019 billion euros for the capital of the oil company put up for sale, which implies a value for the company in the range of 7.010 – 8.085 billion euros (more than 11.2 billion euros if the debt is included).
The Spanish stock market regulator (CNMV) has confirmed its authorisation for the bid of Minor Hotels for the 53.75% of the capital which it still does not control in NH Hoteles (NHH), fixing the purchase price at 6.3 euros per share and valueing the Spanish hotel company at some 2.5 billion euros. Minor now has a period of five working days to disseminate the offer.
The King of Saudi Arabia, Salman Bin Abdulaziz Al Saud, has officially inaugurated this Tuesday the high speed railway (AVE) from Mecca to Medina. This is considered the major infrastructure Project by Spanish companies abroad. According to the consortium of companies building the railway, the price of the project has already risen to 7.1 billion euros.
Gestamp, the multinational company specialising in the design, development and fabrication of highly engineered metal components for the car industry, has recently inaugurated its new plant in Wolverhampton, in the West Midlands (UK). In fact, Gestamp counts with seven production plants in the country. Since 2012, the company has invested more than 200 million pounds in its installations in the UK.
Cepsa will be launched onto the stock market in the last quarter of the year through an IPO. Valuations are being discussed in the range of 10 or 11 billion euros for 100% of the company. The Abu Dhabi sovereign fund (IPIC) bought 100% of Cepsa in 2011. At that stage Cepsa was listed in the stock market for approximately 7.5 billion euros.
Last Friday the expected news arrived of the interest of Hyatt Hotels Corp in the Spanish hotel chain. The Chicago based company showed its interest in acquiring NH Hotels, through an alternative (or negotiation money) for the shareholders of NHH to the existing offer of Minor. But just as the offer arrived, it has evaporated and yesterday Hyatt stepped back from its counter bid for NHH.
Acciona will construct a desalination plant in Saudi Arabia with a daily capacity of 210,000 cubic metres, having won the contract worth more than 200 million euros with the Saudi public company Saline Water Conversión Corporation (SWCC).
Current week the Thai Minor International, parent of Minor Hotels, presented to Spanish stock market regulator CNMV its application for authorization of a 100% takeover bid for NH Hotels with the same terms and conditions of the previous announcement of the bid published in the CNMV 11 June.
Parques Reunidos buys “Wet n Wild” water park in Australia for 25 million euros, plus variable compensation depending on income. The operation makes sense to drive the internationalization of the company, currently present in Europe, the US, Asia and the Middle East.