Banco Santander has reached an agreement to buy the 20% it did not control of Santander Consumer USA at a price of 41.50 dollars per share in cash (its initial proposal was 39 dollars), a premium of 14% over the closing price on 1 July, the day before the announcement of its first offer, made through its US holding company SHUSA, which will finally pay 2.48 billion dollars (about 2.1…
Bank of Montreal informed the CNMV on Monday that it holds a total of 3.467% of the voting rights of Repsol (REP). However, it does not specify whether this is in its own name or in the name of third parties, nor the average acquisition price. This stake would make it the fifth largest shareholder after Sacyr, with 8.2%, JP Morgan with 6.8%, BlackRock with 5% and Amundi with 4.5%….
Abengoa has informed the Comisión Nacional del Mercado de Valores (CNMV) that Ernst & Young has requested the 3rd section of the Commercial Court of Seville to suspend the powers of the board of directors. E&Y, at the request of the judge, is in charge of the bankruptcy administration of the company (with more than 5 billion in debt). In addition, E&Y – the insolvency administration – has requested that…
Barcelona-based electric car charger maker Wallbox will go public on the New York Stock Exchange through a special purpose acquisition company (SPAC) after reaching an agreement with Kensington Capital Acquisition Corp. II. The implied pro forma value of Wallbox as a result of the business combination is $1.5 billion, about €1.2 billion. In a statement, Wallbox said the deal will raise $330 M of financing (around 271 miilion euros) for them, including a fully underwritten private investment of $100 M (over 582 million euros).
The CNMV has approved the prospectus for the partial placement of Acciona Energia. The placement syndicate starts marketing the IPO this week. The transaction is aimed at institutional investors. The Spanish multinational expects to place around 25% of capital (30% if the green shoe is added). Acciona will significantly reduce corporate debt after the capitalisation of intra-group loans. Acciona Energía is born with an installed capacity of 11,000 MW and…
Fernando González Urbaneja | The government’s contempt for the forms and procedures it imposes on other market players is insulting. And what is the CNMV doing?
The government, the Moncloa, has imposed a change in the chairmanship of INDRA, a listed company in which the state controls 19%, without explanation or justification…
Fernando Rodríguez | 96.3% of the outstanding volume of Spanish fixed income with rating – 1.76 trillion euros – was Investment Grade, BBB or higher – at the end of 2020. This is only three tenths of a percentage point lower than in March of the same year, according to a study included in the CNMV Bulletin for the first quarter of this year, published recently. The supervisor’s study concludes…
T.C. | Of the 67 projects submitted in the first call for proposals for the Spanish sandbox – the testing ground for financial innovation – 18, one in four, have received the green light. Spain wants to promote the digital transformation of the financial system with a testing environment, allowing trials to be carried out without the rigid regulatory restrictions. But with strict supervision by the Bank of Spain, the…
Ecoener has dropped more than 15% in its stock market debut, thus weakening the debut of the first of the flood of renewable companies that plan to make the leap to the market in 2021. The renewables group only saw a positive sign in its share price in the early stages of the day, when it rose 1.7% to six euros per share.
Intermoney | A statement sent yesterday to the CNMV announced the friendly takeover bid launched by Masmóvil for 100% of Euskaltel’s capital for an amount of €1,995 Mn, equivalent to a price of €11.17/share in cash. The offer price represents a premium of 16.5% over Friday’s closing price, +25.1% over the average price of the last month and +26.8% over the average price of the last six months. Considering the offer already has the support of 52% of the capital, we recommend to accept the tender offer.