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The Corner
The Corner has a team of on-the-ground reporters in capital cities ranging from New York to Beijing. Their stories are edited by the teams at the Spanish magazine Consejeros (for members of companies’ boards of directors) and at the stock market news site Consenso Del Mercado (market consensus). They have worked in economics and communication for over 25 years.
espana cibeles

In Spain 15th December 2024

Spain: November final CPI confirms preliminary 2.4% year-on-year (vs. 1.8% previously), core at 2.4% (from 2.5% previously)

Bankinter: November final CPI confirms 2.4% year-on-year preliminary (from 1.8% year-on-year previous), Underlying also confirmed 2.4% year-on-year preliminary (from 2.5% previous). On a month-on-month basis +0.2% month-on-month for the headline rate and +0.1% for the Underlying. Analysis team’s view: The data confirm the preliminary data and also the pick-up in headline inflation in 4Q24, as expected and anticipated by the ECB, largely due to base effects from energy (electricity and…

corporacion financiera alba

In Spain 13th December 2024

March family launches takeover bid to delist Corporación Financiera Alba

Thr March family has agreed to delist the Spanish holding through a takeover bid at a price of €84.20 per share in cash, which represents a premium of 79.5% compared to the closing price of €46.90 per share. This offer exceeds the historical maximum reached in 2007 (€60.70 per share). The takeover bid will be presented by the company along with Carlos March Delgado, its president and largest shareholder with…

Acciona

In the World 13th December 2024

Acciona awarded construction and operation of desalination plant in US with investment budget close on €140 million

Intermoney | Acciona (ANA) (Buy, Target Price €180) and local company J.R. Filanc have won the design, construction, operation and maintenance of a new desalination plant that will supply drinking water to residences and businesses in South Orange County (California, United States), according to Expansión newspaper. The investment budget is around $140 million (around €132 million). The Doheny ocean desalination plant, to be located in the town of Dana Point,…

Solaris CAF

In Europe 13th December 2024

CAF subsidiary Solaris wins two contracts to supply 91 electric buses in Sweden and Belgium for €80 million

Link Securities | Solaris, a division of CAF, has been awarded two contracts for 91 electric buses in Sweden and Belgium for a combined value of more than €80 million, thus continuing to expand its market in Europe, according to elEconomista.es. Specifically, Solaris has signed a contract with Keolis Sverige, one of Sweden’s largest transport operators, for the supply of 46 electric buses. The order includes 19 Urbino 12 electric…

grifols investigacion

In Spain 13th December 2024

Grifols to issue €1.3 billion in bonds to refinance debt maturities in 2025

Bankinter: The company is to issue soon €1.3 billion in Guaranteed Bonds maturing in May 2023 with a coupon of 7.125%. Together with part of the cash (September: €644 million), it will be used to redeem close on €340 million of Senior Secured Bonds maturing in February 2025 with a coupon of 1.625% and to pay off the working capital loan facility maturing in November 2025. It also extends by…

Aedas

In Spain 12th December 2024

Castlelake fund to launch final bid in January to sell Aedas Homes

Link Securities | The private equity fund Castlelake will launch in January the final bid to sell Aedas Homes (AEDAS), Spain’s leading housing developer by revenue, according to Voxpopuli.com. The fund, which controls 79.02% of the capital, has already made several soundings in recent years to dispose of its stake and complete its investment cycle . The financial advisors to the deal, Goldman Sachs and Deutsche Bank, have already told…

Corticeira Amorim

In Europe 12th December 2024

Corticeira Amorim sells business in Sweden and Denmark to Salix group for €23.7m

Renta 4: The company has announced the sale of its cork flooring business in Sweden and Denmark to the Salix group for a total of €23.7 million. This divestment is part of its strategy to reorganise and optimise the flooring, composites and insulation businesses under a single unit called Amorim Cork Solutions, announced in the first half of the year. Timberman Denmark A/S and Amorim Cork Sweden AB will continue…

housing spain

In Spain 12th December 2024

Cinven buys Idealista real estate portal for €2.925 billion

Cinven signed the purchase of the real estate portal Idealista for €2.925 billion on Tuesday. This is the largest acquisition of an online company in Spain. The price represents a 2.25 times increase over the valuation of Idealista that the Swedish fund EQT paid four years ago, which was €1.3 billion.With this acquisition, Cinven takes 70% of Idealista, while Apax and Oakley – which held 17% and 12% of the…

bbva sabadell fusion 2

Spanish economy 12th December 2024

BBVA says competition authorities only identify three issues needing further work in second phase of Sabadell takeover bid

Alphavalue/ Divacons | Peio Belausteguigoitia, BBVA’s country manager in Spain, said that having bigger and stronger banks is beneficial for customers, shareholders and employees. During his speech at the 2nd Prensa Ibérica Financial Forum, he stressed that the transaction with Banco de Sabadell has great potential for value creation and will allow the integration of an entity with greater capacity to offer better products and services to customers. Regarding the…

indra edificio

In Europe 12th December 2024

Indra, one of two finalists in tender for Transport for London’s payment system, valued at around €1.8 billion

Link Securities | The Spanish technology group is bidding for London’s public transport payment system, valued at £1.5 billion (around €1.8 billion), an amount that does not include VAT of 20%, Expansión newspaper reports today. Indra is one of the two finalists in the bidding process carried out by the public body Transport for London (TfL) for the so-called Proteus Contract. Its rival is Cubic Transportation Systems, the US firm…