Repsol and Macquarrie, the fund that controls Viesgo, have agreed the principle points of the agreement for the acquisition of the Cantabrian electricity company combined cycle gas power plants and retail business. The operation is valued at over 500 million euros and involves near 730,000 customers.
Donald Trump has announced the US’ withdrawal from the agreement with Iran and will reimpose economic sanctions on that country. Bankinter analysts believe OPEC and Russia hold the possible solution to the crude supply problem, substituting the production which could be withdrawn from Iran.
Criteria, La Caixa’s investment arm, and Abertis’ largest shareholder with 21.55%, will take up the offer launched by ACS, Hochtief and Atlantia and will sell the whole of its stake in the Spanish concessionaire.
Sacyr announced yesterday that it will pay a scrip dividend, so that shareholders can choose between a cash payment of €0,052 per share or receive one new share for every 48 currently available.
The difference between top managers’ salaries in Ibex-35 companies and the lowest salaries in these same firms is on average 207 times, which shows the salary gap in Spain is increasing.
Sonia Ruiz de Garibay (GVCGaesco) | Although a simultaneous investment recommendation for oil and airline stocks might seem a contradiction in terms, the fact they are both heavily influenced by oil prices gives them a very important element in common. Oil is an earning driver for the oil industry, while for the airlines sector it is an important costs’ element, accounting for over 20% of the total. Repsol and IAG are currently good bets.
The Greek government has given authorisation to local firm Energean Oil and Gas and Spain’s Repsol to explore and operate hydrocarbon deposits in the region of Aitoloacarnania, in western Greece.
Repsol and La Caixa, via Criteria, have closed the sale of 20% of Gas Natural Fenosa to the US fund Global Infraestructure Partners (GIP) for €3.803 billion. GIP will now become one of the core shareholders of the energy multinational.
Repsol has doubled its recurrent synergies from 220 million dollars annually to 400, thanks to its purchase of Canadian oil firm Talisman. But the transaction has also resulted in a 5.5 billion dollars arbitration notice being served against it by the Chinese company Sinopec.
Inversis | Spanish oil giant Repsol SA will sell its 42,000 supply points of LPG (Liquefied petroleum gas) at 63 million euros. It plans to divest €6.2 billion in nonstrategic assets and cut spending by 38% “without altering its company profile” as part of its 2016-20 strategic plan.